LPL Financial (NASDAQ:LPLA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

A number of other analysts have also commented on LPLA. Citigroup lowered Apergy from a buy rating to a neutral rating and decreased their price objective for the stock from $41.00 to $34.00 in a report on Tuesday, July 9th. Credit Suisse Group set a €59.00 ($68.60) price objective on Renault and gave the stock a neutral rating in a report on Friday, July 26th. ValuEngine raised Vale from a sell rating to a hold rating in a report on Tuesday, July 16th. BidaskClub raised WhiteHorse Finance from a sell rating to a hold rating in a report on Thursday, July 18th. Finally, Goldman Sachs Group reissued a buy rating and set a GBX 265 ($3.46) price objective on shares of Tesco in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. LPL Financial currently has a consensus rating of Hold and a consensus price target of $87.19.

Shares of LPLA opened at $84.52 on Friday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.40 and a quick ratio of 1.40. The business’s 50 day moving average is $83.69. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.83 and a beta of 1.35. LPL Financial has a 52 week low of $52.03 and a 52 week high of $89.89.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. LPL Financial had a return on equity of 58.18% and a net margin of 9.77%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, analysts expect that LPL Financial will post 6.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Monday, August 12th. LPL Financial’s dividend payout ratio is presently 18.76%.

In other news, insider Michelle Oroschakoff sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $84.51, for a total value of $507,060.00. Following the completion of the transaction, the insider now directly owns 15,563 shares of the company’s stock, valued at $1,315,229.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 1,222 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $85.00, for a total value of $103,870.00. Following the completion of the transaction, the chief executive officer now directly owns 230,068 shares of the company’s stock, valued at $19,555,780. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,722 shares of company stock valued at $653,055. 2.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LPLA. Boston Advisors LLC lifted its stake in LPL Financial by 3.4% in the second quarter. Boston Advisors LLC now owns 93,625 shares of the financial services provider’s stock valued at $7,637,000 after purchasing an additional 3,048 shares during the last quarter. Dupont Capital Management Corp purchased a new position in LPL Financial in the second quarter valued at approximately $998,000. Alpha Windward LLC lifted its stake in LPL Financial by 4,260.2% in the second quarter. Alpha Windward LLC now owns 5,799 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 5,666 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in LPL Financial by 100.3% in the second quarter. Janney Montgomery Scott LLC now owns 52,683 shares of the financial services provider’s stock valued at $4,297,000 after purchasing an additional 26,383 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in LPL Financial by 29.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 536,897 shares of the financial services provider’s stock valued at $43,795,000 after purchasing an additional 123,687 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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