LPL Financial (NASDAQ:LPLA) Shares Up 2.3%

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price shot up 2.3% on Monday . The company traded as high as $273.59 and last traded at $272.44. 152,216 shares were traded during trading, a decline of 71% from the average session volume of 523,225 shares. The stock had previously closed at $266.32.

Analyst Upgrades and Downgrades

Several research firms have commented on LPLA. UBS Group upped their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. Barclays upped their price target on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $276.00.

LPL Financial Trading Up 2.2 %

The company’s 50 day moving average price is $263.85 and its 200 day moving average price is $241.92. The company has a market cap of $20.34 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the business posted $4.21 EPS. LPL Financial’s revenue was up 13.3% compared to the same quarter last year. Research analysts anticipate that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling at LPL Financial

In related news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kabir Sethi sold 1,300 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC acquired a new stake in LPL Financial during the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new stake in shares of LPL Financial in the 1st quarter valued at $30,000. Smithfield Trust Co increased its stake in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at $30,000. Finally, Gladius Capital Management LP acquired a new stake in LPL Financial in the 4th quarter valued at $30,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.