LPL Financial Holdings Inc. (LPLA) Sees Large Volume Increase
LPL Financial Holdings Inc. (NASDAQ:LPLA) saw unusually-high trading volume on Thursday . Approximately 1,071,553 shares traded hands during 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.
LPLA has been the subject of a number of analyst reports. Citigroup Inc. increased their price objective on LPL Financial Holdings from $26.50 to $28.50 and gave the company a “neutral” rating in a research note on Friday, May 27th. Nomura raised their price target on LPL Financial Holdings from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Zacks Investment Research lowered LPL Financial Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $28.00 price target on shares of LPL Financial Holdings in a research note on Friday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial Holdings presently has an average rating of “Hold” and an average target price of $27.76.
The company has a market capitalization of $2.52 billion and a PE ratio of 15.80. The firm’s 50-day moving average is $25.07 and its 200 day moving average is $24.46.
LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.09. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1,000 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts anticipate that LPL Financial Holdings Inc. will post $1.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Tuesday, August 9th.
A hedge fund recently raised its stake in LPL Financial Holdings stock. Wells Fargo & Company MN increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 22.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.
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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