LPL Financial (NASDAQ:LPLA) Sees Large Volume Increase

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) saw unusually-strong trading volume on Wednesday . Approximately 440,290 shares traded hands during trading, a decline of 30% from the previous session’s volume of 632,474 shares.The stock last traded at $229.00 and had previously closed at $220.50.

Analyst Ratings Changes

A number of equities analysts have commented on LPLA shares. Jefferies Financial Group raised their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. JMP Securities reiterated a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Raymond James started coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating on the stock. Barclays decreased their price target on LPL Financial from $319.00 to $313.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $285.20.

LPL Financial Stock Performance

The stock has a 50 day moving average of $269.91 and a 200 day moving average of $261.92. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 0.90 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The company 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 55.22% and a net margin of 9.71%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.94 earnings per share. As a group, analysts predict that LPL Financial Holdings Inc. will post 15.76 EPS for the current year.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial 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 sale, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds have recently added to or reduced their stakes in LPLA. Raymond James Financial Services Advisors Inc. increased its holdings in LPL Financial by 66.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,219 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 3,691 shares in the last quarter. Quent Capital LLC increased its holdings in shares of LPL Financial by 12.5% during the fourth quarter. Quent Capital LLC now owns 872 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 97 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in shares of LPL Financial by 4.3% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 44,244 shares of the financial services provider’s stock valued at $10,511,000 after acquiring an additional 1,833 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of LPL Financial by 21.4% during the fourth quarter. State of Michigan Retirement System now owns 1,700 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 300 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its holdings in shares of LPL Financial by 26.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock valued at $1,289,000 after acquiring an additional 1,199 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.