September 29, 2022

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LPL Financial (NASDAQ:LPLA) Hits New 52-Week High at $104.87

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Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) hit a new 52-week high during trading on Wednesday . The company traded as high as $104.87 and last traded at $104.07, with a volume of 3596 shares trading hands. The stock had previously closed at $103.61.

A number of equities analysts have recently commented on LPLA shares. Citigroup raised their target price on shares of LPL Financial from $111.00 to $118.50 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Compass Point raised their target price on shares of LPL Financial from $85.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, December 18th. BidaskClub raised shares of LPL Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, December 8th. ValuEngine raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, Smith Barney Citigroup lifted their price target on shares of LPL Financial from $113.50 to $132.50 in a research note on Wednesday, November 11th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $99.55.

The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 17.28 and a beta of 1.49. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.31 and a current ratio of 1.30. The company’s fifty day simple moving average is $93.71 and its two-hundred day simple moving average is $83.24.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.21. LPL Financial had a net margin of 8.50% and a return on equity of 49.27%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $1.71 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 6.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 30th. Stockholders of record on Thursday, November 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Tuesday, November 10th. LPL Financial’s dividend payout ratio (DPR) is presently 13.93%.

In other LPL Financial news, Director Sallie R. Larsen sold 5,225 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $95.00, for a total transaction of $496,375.00. Following the completion of the transaction, the director now directly owns 22,680 shares of the company’s stock, valued at approximately $2,154,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelle Oroschakoff sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $86.79, for a total transaction of $347,160.00. Following the transaction, the director now directly owns 23,857 shares of the company’s stock, valued at $2,070,549.03. The disclosure for this sale can be found here. Insiders sold a total of 15,525 shares of company stock valued at $1,418,221 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Twin Tree Management LP acquired a new position in LPL Financial during the 2nd quarter valued at about $82,000. Private Capital Group LLC boosted its stake in LPL Financial by 54.1% during the 2nd quarter. Private Capital Group LLC now owns 1,587 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 557 shares during the period. US Bancorp DE raised its position in shares of LPL Financial by 81.3% during the 2nd quarter. US Bancorp DE now owns 2,030 shares of the financial services provider’s stock worth $159,000 after buying an additional 910 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of LPL Financial during the 3rd quarter worth about $203,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of LPL Financial during the 2nd quarter worth about $206,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Company Profile (NASDAQ:LPLA)

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 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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