Zacks Investment Research Lowers LPL Financial Holdings Inc. (LPLA) to Hold

Zacks Investment Research cut shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “LPL Financial Holdings Inc. is engaged in providing 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, general securities, alternative investments, retirement plans, fixed income, and insurance offerings. LPL Financial Holdings Inc., formerly known as LPL Investment Holdings Inc., is based in Boston, Massachusetts. “

Other equities analysts also recently issued research reports about the company. Citigroup Inc. lifted their price objective on LPL Financial Holdings from $60.50 to $65.00 and gave the stock a buy rating in a research report on Monday, October 30th. SunTrust Banks, Inc. reiterated a buy rating and set a $65.00 price objective on shares of LPL Financial Holdings in a research report on Friday, October 27th. Nomura lifted their price objective on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a buy rating in a research report on Thursday, August 17th. BidaskClub upgraded LPL Financial Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $44.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $52.50.

LPL Financial Holdings (NASDAQ:LPLA) opened at $50.03 on Wednesday. The firm has a market capitalization of $4,510.00, a P/E ratio of 20.09, a PEG ratio of 1.67 and a beta of 1.89. LPL Financial Holdings has a 1 year low of $31.17 and a 1 year high of $53.92. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.52.

LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. sell-side analysts expect that LPL Financial Holdings will post 2.31 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.00 annualized dividend and a yield of 2.00%. LPL Financial Holdings’s dividend payout ratio (DPR) is 42.37%.

A number of hedge funds have recently bought and sold shares of LPLA. UBS Asset Management Americas Inc. increased its stake in LPL Financial Holdings by 23.2% during the first quarter. UBS Asset Management Americas Inc. now owns 62,614 shares of the financial services provider’s stock worth $2,494,000 after acquiring an additional 11,776 shares during the last quarter. SG Americas Securities LLC acquired a new stake in LPL Financial Holdings during the first quarter worth $171,000. Teachers Advisors LLC increased its stake in LPL Financial Holdings by 52.2% during the first quarter. Teachers Advisors LLC now owns 199,905 shares of the financial services provider’s stock worth $7,962,000 after acquiring an additional 68,555 shares during the last quarter. Legal & General Group Plc increased its stake in LPL Financial Holdings by 37.8% during the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after acquiring an additional 19,923 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in LPL Financial Holdings by 16.7% during the first quarter. Vanguard Group Inc. now owns 7,952,138 shares of the financial services provider’s stock worth $316,734,000 after acquiring an additional 1,136,785 shares during the last quarter. 90.66% of the stock is owned by institutional investors.

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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