LPL Financial (NASDAQ:LPLA) Reaches New 12-Month High – Still a Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $334.83 and last traded at $331.00, with a volume of 81570 shares trading hands. The stock had previously closed at $322.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LPLA. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. UBS Group increased their price target on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $316.50.

LPL Financial Trading Up 1.1 %

The business’s 50-day simple moving average is $298.95 and its two-hundred day simple moving average is $259.75. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.61 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently bought and sold shares of LPLA. Tidal Investments LLC increased its holdings in LPL Financial by 98.9% in the third quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 3,809 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of LPL Financial during the 3rd quarter worth $182,000. Sanctuary Advisors LLC boosted its position in shares of LPL Financial by 25.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,399 shares of the financial services provider’s stock worth $3,815,000 after buying an additional 3,339 shares in the last quarter. Anchor Investment Management LLC grew its stake in LPL Financial by 15.6% in the 3rd quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock valued at $2,249,000 after acquiring an additional 1,304 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in LPL Financial by 2.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider’s stock valued at $1,125,000 after purchasing an additional 131 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.