LPL Financial (NASDAQ:LPLA – Free Report) had its target price lifted by JMP Securities from $290.00 to $305.00 in a report released on Tuesday, Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.
LPLA has been the subject of a number of other reports. Barclays lifted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a research note on Monday. Morgan Stanley upgraded shares of LPL Financial from an equal weight rating to an overweight rating and lifted their target price for the company from $254.00 to $315.00 in a research note on Tuesday. UBS Group lifted their target price on shares of LPL Financial from $260.00 to $267.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They issued an underperform rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $268.36.
Check Out Our Latest Stock Report on LPLA
LPL Financial Stock Performance
Shares of LPLA opened at $258.21 on Tuesday. The company’s 50 day moving average price is $260.24 and its 200 day moving average price is $239.52. LPL Financial has a 52 week low of $179.00 and a 52 week high of $274.35. The company has a market capitalization of $19.29 billion, a PE ratio of 18.92, a PEG ratio of 1.26 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77.
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted $4.21 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. Research analysts expect that LPL Financial will post 15.57 EPS for the current fiscal year.
LPL Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. LPL Financial’s payout ratio is presently 8.79%.
Insider Transactions at LPL Financial
In other news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total value of $354,834.14. Following the transaction, the director now directly owns 8,634 shares in the company, valued at $2,218,419.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Enyedi sold 1,381 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the transaction, the director now owns 8,634 shares in the company, valued at $2,218,419.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,151 shares of company stock worth $15,911,088. Company insiders own 1.00% of the company’s stock.
Institutional Investors Weigh In On LPL Financial
A number of institutional investors have recently added to or reduced their stakes in LPLA. Raymond James Financial Services Advisors Inc. boosted its holdings in LPL Financial by 36.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,383 shares of the financial services provider’s stock valued at $801,000 after purchasing an additional 1,181 shares in the last quarter. HighTower Advisors LLC boosted its holdings in LPL Financial by 29.1% during the first quarter. HighTower Advisors LLC now owns 2,172 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 489 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in LPL Financial by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,392 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 770 shares in the last quarter. Bank of Montreal Can boosted its holdings in LPL Financial by 176.6% during the first quarter. Bank of Montreal Can now owns 6,549 shares of the financial services provider’s stock valued at $1,216,000 after purchasing an additional 4,181 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in LPL Financial during the first quarter valued at approximately $58,000. 95.66% of the stock is owned by institutional investors and hedge funds.
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.
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