Media headlines about LPL Financial (NASDAQ:LPLA) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. LPL Financial earned a news sentiment score of 0.18 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 46.1238137172638 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
A number of equities analysts have recently commented on the company. Credit Suisse Group restated an “outperform” rating and issued a $77.00 price objective (up from $68.00) on shares of LPL Financial in a report on Tuesday. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a report on Friday, January 5th. Wells Fargo & Co restated a “market perform” rating and issued a $60.00 price objective (up from $52.00) on shares of LPL Financial in a report on Thursday, January 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $66.00 price objective on shares of LPL Financial in a report on Friday, December 22nd. Finally, Morgan Stanley upgraded LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price objective on the stock in a report on Wednesday, January 3rd. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $58.25.
LPL Financial (NASDAQ:LPLA) traded down $1.28 during mid-day trading on Tuesday, hitting $59.91. The stock had a trading volume of 1,298,053 shares, compared to its average volume of 866,350. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial has a fifty-two week low of $36.72 and a fifty-two week high of $62.51. The firm has a market capitalization of $5,400.00, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.39 and a beta of 1.88.
LPL Financial announced that its board has initiated a share repurchase plan on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CEO Dan H. Arnold sold 3,742 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.
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About LPL Financial
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.
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