LPL Financial (NASDAQ:LPLA) Sets New 52-Week High – Still a Buy?

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $376.11 and last traded at $373.98, with a volume of 581964 shares changing hands. The stock had previously closed at $372.34.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LPLA. The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays lifted their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group lifted their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Citigroup lifted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Stock Performance

The firm’s fifty day moving average price is $343.93 and its 200-day moving average price is $283.83. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $28.00 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.93 and a beta of 0.87.

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

LPL Financial Announces Dividend

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

Insider Activity at LPL Financial

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

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in LPL Financial in the fourth quarter valued at about $30,000. Itau Unibanco Holding S.A. acquired a new position in LPL Financial in the fourth quarter valued at about $42,000. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the third quarter worth approximately $31,000. Jones Financial Companies Lllp lifted its position in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in shares of LPL Financial during the fourth quarter worth approximately $59,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.