LPL Financial Holdings Inc (LPLA) Given “Buy” Rating at Keefe, Bruyette & Woods

LPL Financial Holdings Inc (NASDAQ:LPLA)‘s stock had its “buy” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Tuesday. They presently have a $48.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 21.33% from the company’s previous close.

Several other research analysts have also issued reports on the company. Nomura raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a research report on Friday, April 28th. Citigroup Inc raised LPL Financial Holdings from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Instinet raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a research report on Friday, April 28th. Zacks Investment Research lowered LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Goldman Sachs Group Inc raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and increased their target price for the stock from $44.00 to $47.00 in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.80.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

Shares of LPL Financial Holdings (NASDAQ LPLA) opened at 39.56 on Tuesday. LPL Financial Holdings has a 1-year low of $20.51 and a 1-year high of $43.79. The company’s 50-day moving average price is $40.56 and its 200 day moving average price is $39.26. The firm has a market cap of $3.58 billion, a PE ratio of 18.93 and a beta of 1.85.

LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.30. LPL Financial Holdings had a return on equity of 25.39% and a net margin of 4.74%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that LPL Financial Holdings will post $2.47 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Monday, May 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.53%. LPL Financial Holdings’s payout ratio is currently 46.95%.

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In related news, insider Tracy Calder sold 6,465 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $39.31, for a total value of $254,139.15. Following the sale, the insider now owns 34,165 shares in the company, valued at approximately $1,343,026.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total value of $1,264,781.00. Following the completion of the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The disclosure for this sale can be found here. Insiders sold a total of 54,043 shares of company stock worth $2,122,772 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of LPLA. Goldman Sachs Group Inc. increased its stake 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 last quarter. Point72 Asset Management L.P. bought a new stake in LPL Financial Holdings during the first quarter valued at $46,765,000. Janus Capital Management LLC increased its stake in LPL Financial Holdings by 13.1% in the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after buying an additional 1,038,731 shares during the last quarter. Credit Suisse AG increased its stake in LPL Financial Holdings by 2.3% in the first quarter. Credit Suisse AG now owns 72,197 shares of the financial services provider’s stock valued at $2,876,000 after buying an additional 1,656 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in LPL Financial Holdings by 41.0% in the first quarter. Paloma Partners Management Co now owns 24,220 shares of the financial services provider’s stock valued at $965,000 after buying an additional 7,042 shares during the last quarter.

LPL Financial Holdings 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LPLA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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