LPL Financial (NASDAQ:LPLA) Given New $379.00 Price Target at Barclays

LPL Financial (NASDAQ:LPLA) had its target price boosted by Barclays from $378.00 to $379.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other analysts also recently commented on LPLA. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. upgraded LPL Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price target on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Stock Performance

LPLA stock opened at $327.12 on Monday. The firm has a 50-day simple moving average of $323.22 and a two-hundred day simple moving average of $265.66. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a one year low of $187.19 and a one year high of $344.86. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $3.74 EPS. On average, equities analysts forecast that LPL Financial will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several large investors have recently bought and sold shares of LPLA. Bridges Investment Management Inc. increased its holdings in shares of LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of LPL Financial by 1.8% during the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 42 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of LPL Financial by 3.9% during the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 43 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of LPL Financial by 1.1% during the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds 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.