Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) PT at $268.36

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $268.36.

Several equities research analysts have recently commented on the stock. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays increased their price objective 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. UBS Group increased their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, JMP Securities increased their price objective on shares of LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th.

LPL Financial Stock Up 0.3 %

Shares of NASDAQ:LPLA opened at $259.77 on Tuesday. LPL Financial has a 52 week low of $179.00 and a 52 week high of $274.35. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. The company’s fifty day moving average is $262.60 and its 200-day moving average is $240.60. The company has a market capitalization of $19.41 billion, a PE ratio of 19.03, a P/E/G ratio of 1.26 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, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company earned $4.21 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts predict that LPL Financial will post 15.55 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity

In other news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated 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 approximately $35,131,229.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Dan H. Arnold sold 7,089 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.66, for a total value of $1,883,263.74. Following the sale, the chief executive officer now directly owns 133,169 shares in the company, valued at approximately $35,377,676.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.00% of the stock is currently owned by insiders.

Institutional Trading of LPL Financial

A number of hedge funds have recently modified their holdings of LPLA. EdgeRock Capital LLC acquired a new stake in shares of LPL Financial in the 4th quarter valued at approximately $25,000. First Manhattan Co. acquired a new stake in shares of LPL Financial in the 4th quarter valued at approximately $27,000. Smithfield Trust Co raised its position 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 during the period. GAMMA Investing LLC acquired a new stake in LPL Financial during the 4th quarter worth approximately $30,000. Finally, Gladius Capital Management LP acquired a new stake in LPL Financial during the 4th quarter worth approximately $30,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.