LPL Financial (NASDAQ:LPLA) Hits New 52-Week High on Analyst Upgrade

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) reached a new 52-week high on Friday after Morgan Stanley raised their price target on the stock from $379.00 to $413.00. Morgan Stanley currently has an overweight rating on the stock. LPL Financial traded as high as $375.84 and last traded at $372.70, with a volume of 320649 shares changing hands. The stock had previously closed at $371.05.

Other equities research analysts have also recently issued research reports about the stock. Barclays upped their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Citigroup upped their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JMP Securities restated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. 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, the stock has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently bought and sold shares of LPLA. Ashton Thomas Securities LLC bought a new stake in shares of LPL Financial in the third quarter worth $31,000. Jones Financial Companies Lllp grew its position in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Paladin Wealth LLC bought a new position in LPL Financial during the 3rd quarter valued at $34,000. Brooklyn Investment Group bought a new position in LPL Financial during the third quarter valued at about $43,000. Finally, Compass Financial Services Inc bought a new stake in shares of LPL Financial during the 4th quarter worth $65,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 0.1 %

The firm has a market cap of $27.81 billion, a PE ratio of 26.41, a P/E/G ratio of 1.13 and a beta of 0.87. 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 company’s 50-day moving average is $338.85 and its 200 day moving average is $277.76.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.4 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial’s payout ratio is presently 8.55%.

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.