LPL Financial (NASDAQ:LPLA) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Barclays boosted their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Trading Up 1.1 %

LPLA opened at $336.89 on Wednesday. The stock has a market capitalization of $25.16 billion, a PE ratio of 24.00, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a 12-month low of $187.19 and a 12-month high of $384.04. The firm’s fifty day moving average price is $351.92 and its 200 day moving average price is $311.11.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, research analysts expect that LPL Financial will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio is presently 8.55%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of LPL Financial by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 113,287 shares of the financial services provider’s stock worth $36,989,000 after buying an additional 3,425 shares in the last quarter. 111 Capital acquired a new position in LPL Financial during the fourth quarter worth about $358,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in LPL Financial in the fourth quarter worth about $7,851,000. Siemens Fonds Invest GmbH acquired a new stake in LPL Financial in the 4th quarter valued at about $271,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of LPL Financial during the 4th quarter valued at about $6,821,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.