LPL Financial (NASDAQ:LPLA) Downgraded by StockNews.com

StockNews.com downgraded shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other equities analysts have also issued reports about the company. Bank of America upgraded LPL Financial from a neutral rating to a buy rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on LPL Financial from $261.00 to $268.00 and gave the stock a neutral rating in a research report on Thursday, July 11th. UBS Group reduced their price target on LPL Financial from $290.00 to $215.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. TD Cowen raised their price target on LPL Financial from $243.00 to $255.00 and gave the stock a hold rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group raised their price target on LPL Financial from $322.00 to $334.00 and gave the stock a buy rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $279.30.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $211.43 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $15.80 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88. The business’s 50-day moving average price is $229.00 and its 200-day moving average price is $255.60. LPL Financial has a 12 month low of $187.19 and a 12 month high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.94 EPS. Sell-side analysts forecast that LPL Financial will post 15.85 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 5,677 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. DGS Capital Management LLC lifted its stake in shares of LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 44 shares during the period. Oliver Luxxe Assets LLC raised its stake in LPL Financial by 0.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 48 shares during the last quarter. Tortoise Investment Management LLC raised its stake in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. King Luther Capital Management Corp raised its stake in LPL Financial by 1.0% during the second quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock valued at $1,637,000 after buying an additional 56 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in LPL Financial by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial 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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.