LPL Financial (NASDAQ:LPLA) Reaches New 1-Year High – Here’s Why

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $303.59 and last traded at $302.51, with a volume of 22377 shares trading hands. The stock had previously closed at $275.81.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of analyst reports. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. TD Cowen boosted their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays increased their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, UBS Group lifted their target price on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The company’s 50-day moving average price is $240.71 and its 200-day moving average price is $249.45. The firm has a market capitalization of $22.83 billion, a PE ratio of 22.92, a PEG ratio of 1.34 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $3.74 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 16.03 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.39%. LPL Financial’s payout ratio is currently 9.02%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. raised its stake in LPL Financial by 2,076.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 566 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 540 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of LPL Financial by 3.2% during the third quarter. Mawer Investment Management Ltd. now owns 43,016 shares of the financial services provider’s stock worth $10,007,000 after purchasing an additional 1,341 shares in the last quarter. Quest Partners LLC increased its position in shares of LPL Financial by 45.6% during the third quarter. Quest Partners LLC now owns 4,387 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 1,373 shares in the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of LPL Financial by 13.1% in the 3rd quarter. TrinityPoint Wealth LLC now owns 5,605 shares of the financial services provider’s stock valued at $1,304,000 after purchasing an additional 648 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of LPL Financial by 23.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider’s stock valued at $1,021,000 after purchasing an additional 821 shares during the period. Institutional investors and hedge funds own 95.66% 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 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.