LPL Financial (LPLA) Trading Down 7.5%

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Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) traded down 7.5% during mid-day trading on Friday . The company traded as low as $68.14 and last traded at $68.16. 1,233,150 shares were traded during mid-day trading, an increase of 43% from the average session volume of 861,467 shares. The stock had previously closed at $73.70.

A number of analysts have issued reports on the stock. BidaskClub downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Citigroup boosted their target price on shares of LPL Financial to $100.00 and gave the stock a “buy” rating in a report on Friday, February 1st. Morgan Stanley set a $70.00 target price on shares of LPL Financial and gave the stock a “hold” rating in a report on Friday, February 8th. Finally, Compass Point began coverage on shares of LPL Financial in a report on Monday, March 11th. They issued a “buy” rating and a $82.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $80.60.

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $5.76 billion, a P/E ratio of 12.79, a PEG ratio of 0.70 and a beta of 1.64.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.12. LPL Financial had a net margin of 8.47% and a return on equity of 46.58%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, analysts predict that LPL Financial Holdings Inc will post 6.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. LPL Financial’s dividend payout ratio is presently 18.76%.

In other LPL Financial news, Director Michelle Oroschakoff sold 1,214 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $73.81, for a total value of $89,605.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Gooley sold 25,392 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $74.06, for a total transaction of $1,880,531.52. Following the completion of the sale, the insider now directly owns 17,293 shares of the company’s stock, valued at $1,280,719.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,418 shares of company stock valued at $13,893,460. 2.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in LPLA. CWM LLC boosted its position in LPL Financial by 66.7% in the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after buying an additional 178 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of LPL Financial by 5.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 168 shares during the period. AlphaCrest Capital Management LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth approximately $208,000. Massachusetts Financial Services Co. MA lifted its position in shares of LPL Financial by 8.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,358 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 341 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of LPL Financial in the 3rd quarter worth approximately $287,000. 92.38% of the stock is owned by institutional investors.

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LPL Financial Company Profile (NASDAQ:LPLA)

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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