LPL Financial (NASDAQ:LPLA) Reaches New 52-Week High – What’s Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $344.86 and last traded at $338.76, with a volume of 32477 shares. The stock had previously closed at $333.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LPLA shares. JPMorgan Chase & Co. raised LPL Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $288.00 to $397.00 in a research note on Tuesday. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a report on Monday. Finally, The Goldman Sachs Group upped their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average target price of $345.17.

LPL Financial Stock Performance

The stock has a 50 day moving average price of $319.81 and a two-hundred day moving average price of $264.48. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $25.13 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

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

LPL Financial Announces Dividend

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

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently modified their holdings of LPLA. Bridges Investment Management Inc. boosted 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 valued at $276,000 after acquiring an additional 37 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after buying an additional 42 shares during the period. MFA Wealth Advisors LLC lifted its holdings in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after buying an additional 43 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in LPL Financial by 1.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in 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 buying 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.