LPL Financial (NASDAQ:LPLA) Shares Gap Up – Here’s What Happened

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $336.46, but opened at $364.54. LPL Financial shares last traded at $336.84, with a volume of 112,917 shares traded.

Analysts Set New Price Targets

LPLA has been the subject of a number of analyst reports. UBS Group boosted their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays increased their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Stock Performance

The firm’s fifty day moving average price is $353.43 and its 200-day moving average price is $298.55. The company has a market cap of $25.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 0.94 and a beta of 0.87. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.36%. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Insiders Place Their Bets

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value 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 $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,770 shares of company stock worth $12,663,312 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently made changes to their positions in LPLA. Graney & King LLC acquired a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of LPL Financial during the third quarter worth approximately $31,000. Fourth Dimension Wealth LLC bought a new position in shares of LPL Financial in the fourth quarter valued at approximately $40,000. Itau Unibanco Holding S.A. bought a new position in shares of LPL Financial in the fourth quarter valued at approximately $42,000. Finally, Brooklyn Investment Group acquired a new position in shares of LPL Financial in the 3rd quarter worth approximately $43,000. 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.