LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Has Average Price Target of $403.79 According to Analysts

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $413.80.

LPLA has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on LPL Financial in a research report on Friday. They issued an “overweight” rating and a $362.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. UBS Group dropped their target price on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Truist Financial initiated coverage on shares of LPL Financial in a research report on Tuesday, September 1st. They set a “hold” rating and a $389.00 price target for the company. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $500.00 price objective on shares of LPL Financial in a report on Monday.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the sale, the director directly owned 6,107 shares in the company, valued at approximately $2,182,397.52. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the transaction, the director directly owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 5,867 shares of company stock valued at $2,079,664. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in LPL Financial in the 2nd quarter valued at $1,333,189,000. Jupiter Topco LLC purchased a new position in shares of LPL Financial during the 2nd quarter worth $1,182,595,000. SurgoCap Partners LP purchased a new position in shares of LPL Financial during the 2nd quarter worth $299,487,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of LPL Financial during the 2nd quarter valued at about $290,481,000. Finally, Capital World Investors boosted its position in shares of LPL Financial by 37.9% during the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after acquiring an additional 996,806 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Up 4.9%

LPLA stock opened at $331.98 on Friday. LPL Financial has a 52-week low of $260.15 and a 52-week high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm has a market cap of $26.14 billion, a P/E ratio of 26.47, a PEG ratio of 0.53 and a beta of 0.53. The company’s 50-day simple moving average is $347.05 and its 200-day simple moving average is $318.21.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.LPL Financial’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.51 EPS. As a group, equities analysts forecast that LPL Financial will post 24.24 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is 9.57%.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.