SunTrust Banks, Inc. reaffirmed their hold rating on shares of LPL Financial Holdings Inc (NASDAQ:LPLA) in a research note released on Friday morning. They currently have a $42.00 price objective on the stock.
A number of other brokerages have also weighed in on LPLA. Zacks Investment Research lowered LPL Financial Holdings from a buy rating to a hold rating in a research report on Wednesday, November 30th. Goldman Sachs Group Inc raised LPL Financial Holdings from a sell rating to a neutral rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. LPL Financial Holdings presently has an average rating of Hold and an average target price of $32.96.
Shares of LPL Financial Holdings (NASDAQ:LPLA) traded up 1.89% during midday trading on Friday, hitting $41.07. The stock had a trading volume of 365,352 shares. The company has a market cap of $3.67 billion, a P/E ratio of 19.28 and a beta of 1.85. The firm has a 50 day moving average of $39.81 and a 200-day moving average of $35.68. LPL Financial Holdings has a one year low of $20.51 and a one year high of $42.86.
LPL Financial Holdings (NASDAQ:LPLA) last issued its earnings results on Thursday, February 9th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. The business earned $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. LPL Financial Holdings had a return on equity of 25.39% and a net margin of 4.74%. LPL Financial Holdings’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts forecast that LPL Financial Holdings will post $2.25 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 8th. LPL Financial Holdings’s payout ratio is 46.95%.
In other news, Director Marco Hellman sold 900,000 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $40.00, for a total value of $36,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 15,428 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $39.14, for a total value of $603,851.92. Following the completion of the transaction, the chief executive officer now directly owns 230,112 shares of the company’s stock, valued at $9,006,583.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,615,952 shares of company stock valued at $65,039,461. Corporate insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BOKF NA raised its position in LPL Financial Holdings by 4.3% in the third quarter. BOKF NA now owns 9,522 shares of the company’s stock valued at $285,000 after buying an additional 395 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of LPL Financial Holdings by 9.4% in the third quarter. Integrated Investment Consultants LLC now owns 4,675 shares of the company’s stock valued at $149,000 after buying an additional 400 shares in the last quarter. Cadence Capital Management LLC raised its position in shares of LPL Financial Holdings by 6.5% in the fourth quarter. Cadence Capital Management LLC now owns 11,092 shares of the company’s stock valued at $391,000 after buying an additional 679 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of LPL Financial Holdings by 4.6% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 27,375 shares of the company’s stock valued at $819,000 after buying an additional 1,200 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of LPL Financial Holdings by 0.8% in the third quarter. California State Teachers Retirement System now owns 187,782 shares of the company’s stock valued at $5,617,000 after buying an additional 1,500 shares in the last quarter.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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