LPL Financial (LPLA) Earning Somewhat Favorable News Coverage, Analysis Shows
News articles about LPL Financial (NASDAQ:LPLA) have been trending somewhat positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. LPL Financial earned a news sentiment score of 0.23 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.2798849132607 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news articles that may have impacted Accern Sentiment’s rankings:
- Insider Selling: LPL Financial Holdings Inc (LPLA) Director Sells 5,632 Shares of Stock (americanbankingnews.com)
- Globeflex Capital L P Decreases Position in LPL Financial Holdings Inc (LPLA) (americanbankingnews.com)
- OppenheimerFunds Inc. Increases Stake in LPL Financial Holdings Inc (LPLA) (americanbankingnews.com)
- $1.18 Billion in Sales Expected for LPL Financial Holdings Inc (LPLA) This Quarter (americanbankingnews.com)
- LPL Financial Holdings Inc (LPLA) Shares Bought by Yorktown Management & Research Co Inc (americanbankingnews.com)
LPL Financial (NASDAQ:LPLA) traded up $0.48 during trading on Friday, hitting $63.48. The company had a trading volume of 583,359 shares, compared to its average volume of 1,081,682. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.39 and a current ratio of 1.39. LPL Financial has a 12-month low of $37.38 and a 12-month high of $66.64. The stock has a market capitalization of $5,672.60, a P/E ratio of 24.60, a PEG ratio of 1.11 and a beta of 1.59.
LPL Financial announced that its board has authorized a share buyback plan on Tuesday, December 5th that allows the company to repurchase $359.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on LPLA shares. Zacks Investment Research raised LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a research report on Friday, January 5th. BidaskClub lowered LPL Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 16th. Morgan Stanley raised LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price target on the stock in a research report on Wednesday, January 3rd. Citigroup lifted their price target on LPL Financial from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $60.00 target price (up from $52.00) on shares of LPL Financial in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.36.
In other LPL Financial news, Director Marco Hellman sold 1,150,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $62.12, for a total transaction of $71,438,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William P. Jr. Morrissey sold 20,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $62.74, for a total value of $1,254,800.00. Following the sale, the director now owns 37,541 shares in the company, valued at $2,355,322.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,400,134 shares of company stock worth $87,859,453. Company insiders own 4.00% of the company’s stock.
LPL Financial Company Profile
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.
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