LPL Financial (NASDAQ:LPLA) Reaches New 52-Week High – Still a Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA) hit a new 52-week high on Monday . The stock traded as high as $344.86 and last traded at $338.76, with a volume of 32477 shares changing hands. The stock had previously closed at $333.09.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup upped their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their target price on shares of LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target for the company in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.42.

LPL Financial Price Performance

The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The business’s fifty day moving average is $316.97 and its 200 day moving average is $263.88. The company has a market cap of $25.36 billion, a P/E ratio of 25.46, a PEG ratio of 1.60 and a beta of 0.86.

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

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. Principal Financial Group Inc. lifted its position in LPL Financial by 47.9% during the second quarter. Principal Financial Group Inc. now owns 21,974 shares of the financial services provider’s stock valued at $6,137,000 after purchasing an additional 7,112 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of LPL Financial by 3.6% in the second quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider’s stock valued at $1,584,000 after acquiring an additional 197 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of LPL Financial by 6.9% in the second quarter. Private Advisor Group LLC now owns 26,822 shares of the financial services provider’s stock worth $7,491,000 after acquiring an additional 1,739 shares during the period. Candriam S.C.A. grew its position in shares of LPL Financial by 29.3% during the second quarter. Candriam S.C.A. now owns 8,110 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of LPL Financial by 7.7% during the second quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider’s stock worth $1,548,000 after acquiring an additional 398 shares during the last quarter. Institutional investors 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.