LPL Financial Holdings Inc. (LPLA) CEO Dan H. Arnold Sells 3,742 Shares of Stock
LPL Financial Holdings Inc. (NASDAQ:LPLA) CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
LPL Financial Holdings Inc. (LPLA) traded down $0.02 during midday trading on Friday, reaching $49.30. The company had a trading volume of 428,641 shares, compared to its average volume of 921,097. The firm has a market cap of $4,440.00, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.64 and a beta of 1.89. LPL Financial Holdings Inc. has a 12 month low of $34.01 and a 12 month high of $53.92. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. LPL Financial Holdings’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. equities analysts anticipate that LPL Financial Holdings Inc. will post 2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.03%. LPL Financial Holdings’s payout ratio is 42.37%.
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Several research analysts recently weighed in on the company. J P Morgan Chase & Co restated a “neutral” rating and set a $51.00 target price (up from $48.00) on shares of LPL Financial Holdings in a research note on Friday, August 18th. Nomura boosted their target price on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. SunTrust Banks, Inc. upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $55.00 in a research note on Wednesday, August 16th. Finally, ValuEngine downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware acquired a new position in LPL Financial Holdings in the 2nd quarter worth about $104,000. Public Employees Retirement Association of Colorado raised its holdings in LPL Financial Holdings by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 52 shares during the period. The Manufacturers Life Insurance Company raised its holdings in LPL Financial Holdings by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the period. Comerica Bank acquired a new position in LPL Financial Holdings in the 3rd quarter worth about $200,000. Finally, Virginia Retirement Systems ET AL acquired a new position in LPL Financial Holdings in the 3rd quarter worth about $227,000. 90.26% of the stock is owned by institutional investors.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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