LPL Financial Holdings Inc. (NASDAQ:LPLA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have received an average rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $380.42.

Several research analysts have weighed in on LPLA shares. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays raised their price target on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st.

LPL Financial Stock Down 9.4 %

Shares of LPLA opened at $283.31 on Tuesday. The firm’s 50-day simple moving average is $348.34 and its 200 day simple moving average is $315.70. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $21.13 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. LPL Financial has a 52 week low of $187.19 and a 52 week high of $384.04.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, analysts forecast that LPL Financial will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

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

Hedge Funds Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in LPL Financial by 4.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,214 shares of the financial services provider’s stock valued at $6,331,000 after acquiring an additional 1,104 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in LPL Financial in the third quarter valued at $2,633,000. Caisse DE Depot ET Placement DU Quebec bought a new position in LPL Financial during the 3rd quarter worth $14,447,000. Azora Capital LP lifted its holdings in LPL Financial by 52.2% during the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after buying an additional 220,622 shares during the period. Finally, ArrowMark Colorado Holdings LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at about $7,736,000. 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.