LPL Financial (NASDAQ:LPLA) Stock Price Up 1.9% – Should You Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price was up 1.9% during mid-day trading on Thursday . The company traded as high as $369.84 and last traded at $369.20. Approximately 73,494 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 693,478 shares. The stock had previously closed at $362.20.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley increased their price target on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Trading Down 0.1 %

The company has a fifty day simple moving average of $351.24 and a two-hundred day simple moving average of $293.86. The stock has a market capitalization of $26.97 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Large investors have recently added to or reduced their stakes in the stock. Graney & King LLC bought a new position in shares of LPL Financial in the fourth quarter worth $30,000. Fourth Dimension Wealth LLC bought a new position in LPL Financial in the fourth quarter valued at about $40,000. Itau Unibanco Holding S.A. acquired a new position in LPL Financial during the fourth quarter worth about $42,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial in the third quarter worth about $31,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.