LPL Financial Holdings Inc. (NASDAQ:LPLA) shares reached a new 52-week high on Wednesday . The company traded as high as $47.63 and last traded at $47.60, with a volume of 1,686,164 shares changing hands. The stock had previously closed at $46.07.

A number of research analysts have weighed in on LPLA shares. Instinet raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $51.00 in a report on Friday, April 28th. Citigroup Inc. raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating in a report on Friday, April 28th. Nomura raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $51.00 in a report on Friday, April 28th. Keefe, Bruyette & Woods raised shares of LPL Financial Holdings from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $44.00 to $48.00 in a report on Friday, April 28th. Finally, Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial Holdings has an average rating of “Buy” and an average target price of $43.91.

The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 20.65 and a beta of 1.84. The company has a 50 day moving average price of $44.32 and a 200-day moving average price of $41.23.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post $2.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. LPL Financial Holdings’s dividend payout ratio is presently 43.48%.

In other news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.34, for a total value of $1,264,781.00. Following the completion of the transaction, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Elkfork Partners LLC acquired a new position in LPL Financial Holdings during the first quarter valued at $190,000. Waratah Capital Advisors Ltd. acquired a new position in LPL Financial Holdings during the first quarter valued at $379,000. Legal & General Group Plc increased its position in LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock valued at $2,893,000 after buying an additional 19,923 shares during the period. Bogle Investment Management L P DE acquired a new position in LPL Financial Holdings during the first quarter valued at $1,296,000. Finally, Goldman Sachs Group Inc. increased its position in LPL Financial Holdings by 36.4% in the first quarter. Goldman Sachs Group Inc. now owns 947,482 shares of the financial services provider’s stock valued at $37,738,000 after buying an additional 252,730 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/lpl-financial-holdings-inc-lpla-sets-new-1-year-high-at-47-63/1496088.html.

About LPL Financial Holdings

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Receive News & Ratings for LPL Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.