LPL Financial (NASDAQ:LPLA) Price Target Raised to $390.00

LPL Financial (NASDAQ:LPLA) had its target price hoisted by Keefe, Bruyette & Woods from $325.00 to $390.00 in a report issued on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also commented on the stock. UBS Group lifted their price target on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $277.00 to $413.00 in a research note on Thursday. Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $322.75.

LPL Financial Stock Up 0.1 %

Shares of NASDAQ:LPLA opened at $327.93 on Friday. LPL Financial has a 52-week low of $187.19 and a 52-week high of $334.83. The stock has a market cap of $24.56 billion, a P/E ratio of 24.66, a PEG ratio of 1.61 and a beta of 0.86. The business has a fifty day moving average of $302.23 and a two-hundred day moving average of $260.19. 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 (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the company posted $3.74 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that LPL Financial will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. LPL Financial’s dividend payout ratio is presently 9.02%.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of LPL Financial by 9,450.0% in the 2nd quarter. Fifth Third Bancorp now owns 573 shares of the financial services provider’s stock valued at $160,000 after buying an additional 567 shares during the period. &PARTNERS acquired a new position in shares of LPL Financial during the 2nd quarter worth $803,000. LRI Investments LLC increased its holdings in shares of LPL Financial by 2,531.1% in the 2nd quarter. LRI Investments LLC now owns 1,184 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,139 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of LPL Financial in the second quarter valued at about $341,000. Finally, Whittier Trust Co. lifted its stake in shares of LPL Financial by 5.3% in the second quarter. Whittier Trust Co. now owns 21,758 shares of the financial services provider’s stock valued at $6,077,000 after purchasing an additional 1,096 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.