LPL Financial (NASDAQ:LPLA) Sees Strong Trading Volume

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) saw unusually-high trading volume on Tuesday . Approximately 807,971 shares were traded during trading, an increase of 51% from the previous session’s volume of 533,746 shares.The stock last traded at $246.88 and had previously closed at $263.95.

Analysts Set New Price Targets

LPLA has been the subject of several recent research reports. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating for the company. Barclays decreased their price objective on LPL Financial from $319.00 to $313.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Jefferies Financial Group lifted their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, LPL Financial presently has an average rating of “Hold” and a consensus price target of $285.20.

LPL Financial Price Performance

The firm has a market capitalization of $17.90 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day simple moving average is $276.22 and its 200 day simple moving average is $262.55.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 15.75 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.50%. LPL Financial’s payout ratio is 9.06%.

Insider Transactions at LPL Financial

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently bought and sold shares of LPLA. Vanguard Group Inc. lifted its holdings in LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after acquiring an additional 48,439 shares during the period. Boston Partners lifted its holdings in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after acquiring an additional 738,509 shares during the period. TD Asset Management Inc lifted its holdings in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after acquiring an additional 275,286 shares during the period. Bank of New York Mellon Corp lifted its holdings in LPL Financial by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock valued at $256,472,000 after acquiring an additional 23,890 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in LPL Financial by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after acquiring an additional 153,072 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.