LPL Financial (NASDAQ:LPLA) Reaches New 1-Year High at $275.00

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $275.00 and last traded at $272.55, with a volume of 58111 shares trading hands. The stock had previously closed at $273.91.

Wall Street Analyst Weigh In

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

LPL Financial Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The business’s 50-day moving average price is $264.17 and its 200-day moving average price is $242.25. The firm has a market capitalization of $20.28 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.21 EPS. As a group, analysts expect that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of LPL Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now owns 10,245 shares in the company, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.54, for a total value of $9,277,457.78. Following the sale, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

A number of institutional investors have recently modified their holdings of LPLA. Commonwealth Equity Services LLC raised its position in shares of LPL Financial by 18.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 489 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake in LPL Financial by 191.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 9,715 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 6,382 shares during the last quarter. Cigna Investments Inc. New bought a new stake in shares of LPL Financial in the 3rd quarter worth about $206,000. Aquila Investment Management LLC raised its stake in shares of LPL Financial by 33.3% in the 3rd quarter. Aquila Investment Management LLC now owns 8,000 shares of the financial services provider’s stock valued at $1,901,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Foresight Global Investors Inc. lifted its position in shares of LPL Financial by 143.9% during the third quarter. Foresight Global Investors Inc. now owns 7,220 shares of the financial services provider’s stock worth $1,716,000 after purchasing an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

About LPL Financial

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.