In yesterday’s Wall Street session, LPL Financial Holdings Inc. (NASDAQ:LPLA) shares traded at $220.51, up 1.42% from the previous session.
As of this writing, 14 analysts cover LPL Financial Holdings Inc. (NASDAQ:LPLA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $290.00 and a low of $202.00, we find $245.00. Given the previous closing price of $217.43, this indicates a potential upside of 12.68 percent. LPLA stock price is now 9.84% away from the 50-day moving average and -0.32% away from the 200-day moving average. The market capitalization of the company currently stands at $16.62B.
There are 4 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $238.27 as their price target over the next twelve months.
With the price target reduced from $245 to $205, Credit Suisse Downgraded its rating from Outperform to Neutral for LPL Financial Holdings Inc. (NASDAQ: LPLA).
In other news, Glavin William Francis Jr, Director bought 557 shares of the company’s stock on May 04. The stock was bought for $100,388 at an average price of $180.23. Upon completion of the transaction, the Director now directly owns 2,775 shares in the company, valued at $0.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 27, President & CEO Arnold Dan H. sold 38,444 shares of the business’s stock. A total of $9,464,734 was realized by selling the stock at an average price of $246.20. This leaves the insider owning 154,884 shares of the company worth $34.15 million. Insiders disposed of 352,416 shares of company stock worth roughly $77.71 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LPLA stock. A new stake in LPL Financial Holdings Inc. shares was purchased by GILLSON CAPITAL LP during the first quarter worth $13,158,000. KINGDON CAPITAL MANAGEMENT, L.L.C. invested $12,128,000 in shares of LPLA during the first quarter. In the first quarter, AUSTRALIANSUPER PTY LTD acquired a new stake in LPL Financial Holdings Inc. valued at approximately $11,493,000. HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in LPLA for approximately $11,026,000. SEGMENT WEALTH MANAGEMENT, LLC purchased a new stake in LPLA valued at around $6,624,000 in the second quarter. In total, there are 882 active investors with 98.84% ownership of the company’s stock.
Monday morning saw LPL Financial Holdings Inc. (NASDAQ: LPLA) opened at $219.05. During the past 12 months, LPL Financial Holdings Inc. has had a low of $169.68 and a high of $271.56. The fifty day moving average price for LPLA is $200.75 and a two-hundred day moving average price translates $221.22 for the stock.
The latest earnings results from LPL Financial Holdings Inc. (NASDAQ: LPLA) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at $4.49, beating analysts’ expectations of $4.33 by 0.16. This compares to $1.64 EPS in the same period last year. The net profit margin was 11.70% and return on equity was 51.20% for LPLA. The company reported revenue of $2.42 billion for the quarter, compared to $2.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.05 percent. For the current quarter, analysts expect LPLA to generate $2.45B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/01/2023. Investors who held shares on 05/18/2023 were paid a $0.30 dividend. On an annualized basis, this represents a $1.20 dividend and a 0.54% percent yield. There was an ex-dividend date of 05/17/2023 for this dividend. In terms of dividend payout ratio, LPLA is presently at 5.70%.
LPL Financial Holdings Inc.(LPLA) Company Profile
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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes. The company also provides advisory platforms that provide access to mutual funds, exchange-traded funds, stocks, bonds, certain option strategies, unit investment trusts, and institutional money managers and no-load multi-manager variable annuities. In addition, it offers money market products; and retirement solutions for commission-and fee-based services that allow advisors to provide brokerage services, consultation, and advice to retirement plan sponsors. Further, the company provides other services comprising tools and services that enable advisors to maintain and grow their practices; trust, investment management oversight, and custodial services to trusts for estates and families, as well as insurance brokerage general agency services; and technology products, such as proposal generation, investment analytics, and portfolio modeling. The company was formerly known as LPL Investment Holdings Inc. and changed its name to LPL Financial Holdings Inc. in June 2012. LPL Financial Holdings Inc. was founded in 1989 and is based in San Diego, California.
