LPL Financial (NASDAQ:LPLA) Reaches New 1-Year High at $275.00

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $275.00 and last traded at $272.55, with a volume of 58111 shares trading hands. The stock had previously closed at $273.91.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LPLA. TD Cowen raised their target price on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group increased their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.20.

LPL Financial Stock Performance

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $264.62 and a 200 day moving average price of $242.70. The firm has a market capitalization of $19.83 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. LPL Financial’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $4.21 EPS. Research analysts expect that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current year.

Insider Activity

In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the sale, the director now directly owns 8,634 shares in the company, valued at approximately $2,218,419.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of LPL Financial

Large investors have recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of LPL Financial in the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in LPL Financial in the first quarter valued at $30,000. Smithfield Trust Co raised its stake in LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after buying an additional 74 shares in the last quarter. GAMMA Investing LLC purchased a new stake in LPL Financial during the 4th quarter worth about $30,000. Finally, Gladius Capital Management LP acquired a new position in shares of LPL Financial during the 4th quarter worth about $30,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.