LPL Financial Holdings Inc. (LPLA) Trading Down 3%
LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price was down 3% during mid-day trading on Thursday . The stock traded as low as $28.59 and last traded at $28.84, with a volume of 453,858 shares. The stock had previously closed at $29.73.
Several equities analysts have issued reports on LPLA shares. Credit Suisse Group AG lowered LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Monday, August 22nd. They noted that the move was a valuation call. Nomura raised their price objective on LPL Financial Holdings from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Citigroup Inc. raised their price objective on LPL Financial Holdings from $26.50 to $28.50 and gave the stock a “neutral” rating in a report on Friday, May 27th. Zacks Investment Research lowered LPL Financial Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Keefe, Bruyette & Woods raised their price objective on LPL Financial Holdings from $26.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.76.
The firm’s 50 day moving average price is $26.78 and its 200 day moving average price is $24.69. The firm has a market cap of $2.66 billion and a P/E ratio of 16.64.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The firm earned $1.02 billion during the quarter, compared to analyst estimates of $1,000 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post $1.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were issued a $0.25 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.35%.
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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