A number of other research firms have also commented on LPLA. Zacks Investment Research lowered LPL Financial from a buy rating to a hold rating in a research report on Tuesday, February 12th. Morgan Stanley set a $70.00 price target on LPL Financial and gave the company a hold rating in a research report on Friday, February 8th. Credit Suisse Group reissued a buy rating and issued a $91.00 price target on shares of LPL Financial in a research report on Monday, February 4th. Compass Point started coverage on LPL Financial in a research note on Monday, March 11th. They issued a buy rating and a $82.00 price objective for the company. Finally, Goldman Sachs Group downgraded LPL Financial from a conviction-buy rating to a buy rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $84.16.
LPLA traded down $2.38 during trading on Tuesday, hitting $80.22. The company’s stock had a trading volume of 693,258 shares, compared to its average volume of 777,315. LPL Financial has a twelve month low of $52.03 and a twelve month high of $85.58. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $6.96 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.79 and a beta of 1.61.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. LPL Financial’s payout ratio is 18.76%.
In other LPL Financial news, insider Tracy Calder sold 500 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.25, for a total value of $42,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Oroschakoff sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $84.51, for a total value of $507,060.00. Following the completion of the transaction, the insider now owns 15,563 shares of the company’s stock, valued at approximately $1,315,229.13. The disclosure for this sale can be found here. Insiders have sold a total of 34,328 shares of company stock valued at $2,623,192 in the last quarter. 2.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LPLA. LPL Financial LLC raised its holdings in shares of LPL Financial by 11.1% in the 4th quarter. LPL Financial LLC now owns 20,196 shares of the financial services provider’s stock valued at $1,234,000 after acquiring an additional 2,011 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of LPL Financial by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 35,780 shares of the financial services provider’s stock valued at $2,185,000 after acquiring an additional 4,405 shares in the last quarter. Boston Advisors LLC purchased a new stake in shares of LPL Financial in the 4th quarter valued at about $4,092,000. APG Asset Management N.V. raised its holdings in shares of LPL Financial by 75.7% in the 4th quarter. APG Asset Management N.V. now owns 887,500 shares of the financial services provider’s stock valued at $47,420,000 after acquiring an additional 382,400 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of LPL Financial by 8.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 93.84% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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