LPL Financial Holdings Inc (LPLA) Rating Reiterated by SunTrust Banks, Inc.

LPL Financial Holdings Inc (NASDAQ:LPLA)‘s stock had its “hold” rating reiterated by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They presently have a $42.00 price target on the stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 2.36% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. Goldman Sachs Group Inc upgraded shares of LPL Financial Holdings from a “sell” rating to a “neutral” rating and boosted their target price for the company from $34.00 to $40.00 in a research report on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. LPL Financial Holdings presently has a consensus rating of “Hold” and an average price target of $33.66.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

LPL Financial Holdings (NASDAQ:LPLA) opened at 41.03 on Friday. The company has a 50-day moving average of $39.81 and a 200 day moving average of $35.68. LPL Financial Holdings has a one year low of $20.51 and a one year high of $42.86. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 19.26 and a beta of 1.85.

LPL Financial Holdings (NASDAQ:LPLA) last issued its earnings results on Thursday, February 9th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.36 by $0.10. The company earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. LPL Financial Holdings had a net margin of 4.74% and a return on equity of 25.39%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. On average, analysts anticipate that LPL Financial Holdings will post $2.25 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, March 8th. LPL Financial Holdings’s payout ratio is presently 46.95%.

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In related news, insider Tracy Calder sold 10,747 shares of LPL Financial Holdings stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $39.05, for a total transaction of $419,670.35. Following the sale, the insider now directly owns 35,351 shares of the company’s stock, valued at approximately $1,380,456.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marco Hellman sold 900,000 shares of LPL Financial Holdings stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $40.00, for a total transaction of $36,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,615,952 shares of company stock valued at $65,039,461 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Several large investors have recently made changes to their positions in LPLA. Royal Bank of Canada raised its stake in shares of LPL Financial Holdings by 673.9% in the second quarter. Royal Bank of Canada now owns 7,507 shares of the company’s stock valued at $169,000 after buying an additional 6,537 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of LPL Financial Holdings by 20.8% in the third quarter. BNP Paribas Arbitrage SA now owns 10,586 shares of the company’s stock valued at $317,000 after buying an additional 1,825 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of LPL Financial Holdings by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 8,000 shares of the company’s stock valued at $239,000 after buying an additional 7,000 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of LPL Financial Holdings by 9.4% in the third quarter. Integrated Investment Consultants LLC now owns 4,675 shares of the company’s stock valued at $149,000 after buying an additional 400 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of LPL Financial Holdings by 1.3% in the third quarter. California Public Employees Retirement System now owns 208,900 shares of the company’s stock valued at $6,248,000 after buying an additional 2,700 shares during the period.

About LPL Financial Holdings

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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