LPL Financial Holdings Inc. (LPLA) Sees Unusually-High Trading Volume
LPL Financial Holdings Inc. (NASDAQ:LPLA) shares saw strong trading volume on Thursday . 1,071,553 shares changed hands during mid-day trading, an increase of 55% from the previous session’s volume of 692,396 shares.The stock last traded at $28.14 and had previously closed at $28.03.
Several research analysts have recently issued reports on the stock. Citigroup Inc. restated a “hold” rating on shares of LPL Financial Holdings in a report on Sunday, May 29th. SunTrust Banks Inc. increased their price target on shares of LPL Financial Holdings from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, June 2nd. Nomura reiterated a “neutral” rating and set a $28.00 price target on shares of LPL Financial Holdings in a research note on Friday, May 27th. Credit Suisse Group AG reiterated a “buy” rating and set a $28.00 price target on shares of LPL Financial Holdings in a research note on Friday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of LPL Financial Holdings from $26.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. LPL Financial Holdings currently has an average rating of “Hold” and a consensus price target of $27.76.
The stock’s 50-day moving average price is $24.90 and its 200 day moving average price is $24.47. The company has a market capitalization of $2.51 billion and a price-to-earnings ratio of 15.69.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. During the same quarter last year, the firm posted $0.65 earnings per share. The business earned $1.02 billion during the quarter, compared to the consensus estimate of $1,000 million. LPL Financial Holdings’s revenue was down 6.6% compared to the same quarter last year. Analysts forecast that LPL Financial Holdings Inc. will post $1.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.55%. The ex-dividend date is Tuesday, August 9th.
A hedge fund recently raised its stake in LPL Financial Holdings stock. Wells Fargo & Company MN raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 22.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 571,012 shares of the company’s stock after buying an additional 104,608 shares during the period. Wells Fargo & Company MN owned about 0.60% of LPL Financial Holdings worth $24,353,000 as of its most recent SEC filing.
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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