LPL Financial Holdings Inc. (LPLA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “LPL Financial Holdings Inc. is engaged in providing an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, general securities, alternative investments, retirement plans, fixed income, and insurance offerings. LPL Financial Holdings Inc., formerly known as LPL Investment Holdings Inc., is based in Boston, Massachusetts. “

Several other brokerages have also recently commented on LPLA. Nomura boosted their price target on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a buy rating in a research report on Thursday, August 17th. J P Morgan Chase & Co reissued a neutral rating and set a $51.00 price target (up from $48.00) on shares of LPL Financial Holdings in a research report on Friday, August 18th. SunTrust Banks, Inc. raised shares of LPL Financial Holdings from a hold rating to a buy rating and boosted their price target for the stock from $49.00 to $55.00 in a research report on Wednesday, August 16th. BidaskClub raised shares of LPL Financial Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $44.00 price target on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $48.20.

LPL Financial Holdings (LPLA) traded up 1.21% during trading on Wednesday, reaching $49.45. 102,095 shares of the company’s stock traded hands. LPL Financial Holdings has a 12 month low of $28.38 and a 12 month high of $49.64. The firm has a market cap of $4.45 billion, a PE ratio of 21.48 and a beta of 1.84. The firm has a 50 day moving average price of $46.22 and a 200-day moving average price of $42.35.

LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings will post $2.40 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. LPL Financial Holdings’s dividend payout ratio is presently 43.48%.

Several institutional investors have recently added to or reduced their stakes in LPLA. ProShare Advisors LLC increased its stake in shares of LPL Financial Holdings by 6.8% during the 1st quarter. ProShare Advisors LLC now owns 11,656 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 744 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of LPL Financial Holdings by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 466,342 shares of the financial services provider’s stock worth $18,573,000 after purchasing an additional 19,407 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of LPL Financial Holdings by 106.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,439 shares of the financial services provider’s stock worth $655,000 after purchasing an additional 8,483 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of LPL Financial Holdings by 311.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,164 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 6,937 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of LPL Financial Holdings by 23.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 62,614 shares of the financial services provider’s stock worth $2,494,000 after purchasing an additional 11,776 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

LPL Financial Holdings Company Profile

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.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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