LPL Financial Holdings Inc. (LPLA) Given Average Recommendation of “Hold” by Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.73.

A number of research firms have recently commented on LPLA. BidaskClub raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. boosted their target price on shares of LPL Financial Holdings from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $42.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, July 4th.

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In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the sale, the insider now owns 49,691 shares in the company, valued at $1,954,843.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC acquired a new stake in LPL Financial Holdings during the first quarter valued at $190,000. AQR Capital Management LLC acquired a new stake in LPL Financial Holdings during the fourth quarter valued at $1,201,000. Waratah Capital Advisors Ltd. purchased a new position in LPL Financial Holdings during the first quarter valued at approximately $379,000. Legal & General Group Plc raised its position in LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock valued at $2,893,000 after buying an additional 19,923 shares in the last quarter. Finally, Bogle Investment Management L P DE purchased a new position in LPL Financial Holdings during the first quarter valued at approximately $1,296,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Shares of LPL Financial Holdings (NASDAQ LPLA) traded up 0.70% during midday trading on Tuesday, hitting $45.79. 135,095 shares of the stock were exchanged. The firm has a market cap of $4.12 billion, a P/E ratio of 19.89 and a beta of 1.84. The firm has a 50 day moving average of $43.85 and a 200 day moving average of $41.05. LPL Financial Holdings has a 12-month low of $26.45 and a 12-month high of $46.62.

LPL Financial Holdings (NASDAQ:LPLA) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that LPL Financial Holdings will post $2.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 2.20%. LPL Financial Holdings’s payout ratio is 43.48%.

About LPL Financial Holdings

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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