LPL Financial (NASDAQ:LPLA) Trading Down 0%

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price was down 0% during trading on Wednesday . The company traded as low as $265.52 and last traded at $266.80. Approximately 30,207 shares changed hands during trading, a decline of 94% from the average daily volume of 521,107 shares. The stock had previously closed at $266.90.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LPLA shares. JPMorgan Chase & Co. upped their price objective on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating for the company. JMP Securities upped their price objective on LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Barclays upped their price objective on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Hold” and an average price target of $268.36.

LPL Financial Stock Performance

The stock has a market cap of $19.83 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average price of $263.67 and a two-hundred day moving average price of $241.63.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.21 earnings per share. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s payout ratio is presently 8.79%.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,151 shares of company stock valued at $15,911,088. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several institutional investors have recently modified their holdings of LPLA. EdgeRock Capital LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at approximately $25,000. Smithfield Trust Co lifted its stake in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $30,000. Gladius Capital Management LP purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $30,000. Finally, Riverview Trust Co purchased a new stake in shares of LPL Financial in the first quarter worth approximately $30,000. 95.66% of the stock is owned by institutional investors.

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.