LPL Financial (NASDAQ:LPLA) Hits New 52-Week High – Should You Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA) reached a new 52-week high 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

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Trading Up 10.5 %

The stock has a market cap of $22.78 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.39 and a beta of 0.85. The business has a 50 day moving average of $237.32 and a 200-day moving average of $248.64. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm earned $3.74 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts anticipate that LPL Financial Holdings Inc. will post 15.92 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date 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 9.02%.

Institutional Investors Weigh In On LPL Financial

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial during the 2nd quarter worth approximately $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the second quarter worth $28,000. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the third quarter valued at $31,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the 3rd quarter worth $34,000. Finally, Crewe Advisors LLC grew its stake in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors 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.