LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Aneri Jambusaria sold 305 shares of the firm's 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 in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
LPL Financial Stock Down 2.2 %
Shares of NASDAQ:LPLA opened at $320.50 on Tuesday. The business has a 50-day moving average price of $286.29 and a 200 day moving average price of $257.36. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $332.91. 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 capitalization of $24.00 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.60 and a beta of 0.86.
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LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.74 EPS. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.
LPL Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial's payout ratio is presently 9.02%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on LPLA shares. The Goldman Sachs Group raised their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. UBS Group raised their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Wells Fargo & Company upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. JMP Securities reiterated a "market outperform" rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $296.42.
Read Our Latest Research Report on LPLA
Hedge Funds Weigh In On LPL Financial
Hedge funds have recently bought and sold shares of the company. Bridges Investment Management Inc. grew its position in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock valued at $276,000 after acquiring an additional 37 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 42 shares in the last quarter. MFA Wealth Advisors LLC increased its stake in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider's stock worth $267,000 after buying an additional 43 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in LPL Financial by 1.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider's stock worth $956,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider's stock valued at $220,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.
About LPL Financial
(
Get Free Report)
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.
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