LPL Financial (NASDAQ:LPLA) Sets New 1-Year High – Here’s Why

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $361.70 and last traded at $361.41, with a volume of 97777 shares changing hands. The stock had previously closed at $358.18.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley raised their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $351.50.

LPL Financial Stock Up 1.1 %

The business has a fifty day moving average of $333.18 and a 200 day moving average of $271.86. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $27.11 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.09 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $3.74 EPS. LPL Financial’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the business. Cigna Investments Inc. New bought a new stake in LPL Financial during the 4th quarter worth approximately $244,000. Summit Trail Advisors LLC acquired a new position in shares of LPL Financial in the fourth quarter valued at approximately $595,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial during the fourth quarter worth $65,000. Entropy Technologies LP acquired a new stake in shares of LPL Financial during the fourth quarter worth $422,000. Finally, Sanchez Wealth Management Group lifted its position in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

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.