LPL Financial (NASDAQ:LPLA) Sets New 52-Week High – Time to Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $347.74 and last traded at $344.54, with a volume of 30675 shares changing hands. The stock had previously closed at $338.25.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LPLA shares. The Goldman Sachs Group boosted their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays increased their price objective on LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their target price on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Citigroup raised their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.50.

LPL Financial Price Performance

The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a 50-day moving average of $327.62 and a 200-day moving average of $267.93. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.03 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping 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 firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Bridges Investment Management Inc. boosted its position in shares of LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares during the period. Avior Wealth Management LLC grew its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 42 shares in the last quarter. MFA Wealth Advisors LLC increased its stake in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after buying an additional 43 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds 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.