LPLA has been the subject of several other reports. Credit Suisse Group boosted their price objective on shares of LPL Financial from $108.00 to $110.00 and gave the company an outperform rating in a research report on Friday, July 26th. Compass Point cut shares of LPL Financial from a buy rating to a neutral rating and set a $84.13 price objective for the company. in a research report on Wednesday, May 8th. Citigroup lowered their price objective on shares of LPL Financial from $102.00 to $100.00 and set a buy rating for the company in a research report on Tuesday, July 9th. Zacks Investment Research cut shares of LPL Financial from a hold rating to a sell rating in a research report on Saturday, July 27th. Finally, ValuEngine cut shares of LPL Financial from a hold rating to a sell rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $87.19.
LPLA stock opened at $74.67 on Friday. LPL Financial has a 12 month low of $52.03 and a 12 month high of $89.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day moving average price is $82.07. The stock has a market cap of $6.19 billion, a PE ratio of 14.01, a PEG ratio of 0.70 and a beta of 1.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be given a $0.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 1.34%. LPL Financial’s dividend payout ratio (DPR) is 18.76%.
In other LPL Financial news, CFO Matthew J. Audette sold 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.67, for a total value of $958,375.00. Following the completion of the sale, the chief financial officer now directly owns 30,943 shares of the company’s stock, valued at approximately $2,372,399.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $84.51, for a total transaction of $507,060.00. Following the completion of the sale, the insider now directly owns 15,563 shares of the company’s stock, valued at $1,315,229.13. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of LPLA. Crestline Management LP bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $9,078,000. BlackRock Inc. raised its stake in shares of LPL Financial by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,144,447 shares of the financial services provider’s stock worth $338,063,000 after acquiring an additional 120,006 shares in the last quarter. Qtron Investments LLC raised its stake in shares of LPL Financial by 20.0% during the 2nd quarter. Qtron Investments LLC now owns 5,974 shares of the financial services provider’s stock worth $487,000 after acquiring an additional 995 shares in the last quarter. Captrust Financial Advisors grew its position in LPL Financial by 70,000.0% during the 2nd quarter. Captrust Financial Advisors now owns 701 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 700 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in LPL Financial by 3.7% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 28,300 shares of the financial services provider’s stock worth $2,308,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.
LPL Financial Company Profile
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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