LPL Financial (NASDAQ:LPLA) Sets New 12-Month High – What’s Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $334.93 and last traded at $334.93, with a volume of 145329 shares trading hands. The stock had previously closed at $329.01.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LPLA shares. Wells Fargo & Company increased their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. UBS Group raised their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays raised their target price on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $322.75.

LPL Financial Trading Up 0.3 %

The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.60 and a beta of 0.86. The business has a fifty day simple moving average of $307.07 and a 200 day simple moving average of $261.43. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.36%. LPL Financial’s payout ratio is currently 9.02%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bridges Investment Management Inc. increased its holdings in shares of LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares during the last quarter. Avior Wealth Management LLC grew its position in LPL Financial by 1.8% during the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares during the period. MFA Wealth Advisors LLC raised its holdings in shares of LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 43 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after purchasing an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 46 shares during the period. 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.