LPL Financial (NASDAQ:LPLA) Posts Earnings Results, Beats Expectations By $0.24 EPS

LPL Financial (NASDAQ:LPLA) announced its earnings results on Thursday. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24, Zacks reports. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%.

LPL Financial Stock Down 0.1 %

Shares of LPLA traded down $0.22 during mid-day trading on Thursday, hitting $361.80. 1,162,545 shares of the company’s stock were exchanged, compared to its average volume of 548,842. The stock has a market cap of $27.09 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.09 and a beta of 0.87. The firm has a fifty day moving average of $334.08 and a two-hundred day moving average of $272.49. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a twelve month low of $187.19 and a twelve month high of $366.00.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s payout ratio is 9.02%.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group raised their target price on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group raised LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Monday, January 6th. Barclays lifted their price target on LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Citigroup increased their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average price target of $351.50.

About LPL Financial

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.