LPL Financial (NASDAQ:LPLA) Shares Up 0.2% – Time to Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price shot up 0.2% during trading on Thursday . The company traded as high as $372.63 and last traded at $368.00. 105,368 shares were traded during trading, a decline of 82% from the average session volume of 601,971 shares. The stock had previously closed at $367.32.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LPLA. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JMP Securities restated a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Finally, Citigroup raised their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Stock Performance

The stock has a 50-day simple moving average of $342.16 and a 200-day simple moving average of $282.10. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $27.81 billion, a PE ratio of 26.42, a P/E/G ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Equities analysts predict that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is 8.55%.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of LPLA. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of LPL Financial by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 600 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 500 shares during the period. CX Institutional acquired a new position in shares of LPL Financial in the 3rd quarter valued at $382,000. Swedbank AB boosted its position in shares of LPL Financial by 19.8% in the 3rd quarter. Swedbank AB now owns 16,429 shares of the financial services provider’s stock valued at $3,822,000 after purchasing an additional 2,720 shares during the period. Foster Victor Wealth Advisors LLC boosted its position in shares of LPL Financial by 32.5% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 69,731 shares of the financial services provider’s stock valued at $17,142,000 after purchasing an additional 17,091 shares during the period. Finally, Net Worth Advisory Group acquired a new position in shares of LPL Financial in the 3rd quarter valued at $240,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.