LPL Financial (NASDAQ:LPLA) Cut to “Sell” at StockNews.com

StockNews.com cut shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a research note released on Monday.

A number of other brokerages have also recently commented on LPLA. Barclays lifted their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley boosted their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup lifted their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, UBS Group lifted their price target on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Stock Up 1.8 %

Shares of NASDAQ LPLA opened at $332.21 on Monday. The company has a market cap of $24.81 billion, a P/E ratio of 23.66, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The business has a 50-day simple moving average of $351.98 and a two-hundred day simple moving average of $305.90. LPL Financial has a 52 week low of $187.19 and a 52 week high of $384.04.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s payout ratio is 8.55%.

Insiders Place Their Bets

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 in the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Trading of LPL Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. Graney & King LLC purchased a new stake in LPL Financial in the 4th quarter worth approximately $30,000. Fourth Dimension Wealth LLC purchased a new stake in LPL Financial during the fourth quarter worth $40,000. Itau Unibanco Holding S.A. purchased a new stake in LPL Financial during the fourth quarter worth $42,000. Brooklyn Investment Group acquired a new stake in LPL Financial during the third quarter valued at $43,000. Finally, Jones Financial Companies Lllp grew its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds 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.