Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) Target Price at $405.79

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $405.7857.

LPLA has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Truist Financial began coverage on LPL Financial in a report on Tuesday, September 1st. They set a “hold” rating and a $389.00 price target for the company. Morgan Stanley boosted their price target on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Wolfe Research restated an “outperform” rating and issued a $454.00 price objective on shares of LPL Financial in a research note on Wednesday, August 12th.

LPL Financial Stock Down 2.3%

NASDAQ:LPLA opened at $345.66 on Tuesday. The stock has a 50-day simple moving average of $348.09 and a 200 day simple moving average of $316.76. LPL Financial has a 52-week low of $260.15 and a 52-week high of $400.16. The company has a market cap of $27.22 billion, a PE ratio of 27.56, a PEG ratio of 0.60 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the company posted $4.51 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. On average, sell-side analysts expect that LPL Financial will post 24.06 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s payout ratio is 9.57%.

Insider Activity at LPL Financial

In related news, insider Katharine Reeping sold 440 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the transaction, the insider owned 1,774 shares in the company, valued at approximately $617,139.12. This represents a 19.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the transaction, the director directly owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,175 shares of company stock valued at $2,173,912 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of LPL Financial

Hedge funds have recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its stake in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 73 shares during the period. Core Wealth Advisors LLC acquired a new stake in LPL Financial during the 4th quarter valued at approximately $36,000. Physician Wealth Advisors Inc. increased its position in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in LPL Financial during the 4th quarter valued at approximately $50,000. Finally, Reflection Asset Management bought a new position in LPL Financial during the 4th quarter worth approximately $50,000. 95.66% of the stock is owned by institutional investors and hedge funds.

About LPL Financial

LPL Financial Holdings Inc (NASDAQ:LPLA) is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.

The company’s platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.