LPL Financial (NASDAQ:LPLA) Price Target Raised to $405.00

LPL Financial (NASDAQ:LPLA) had its price objective increased by Keefe, Bruyette & Woods from $390.00 to $405.00 in a report issued on Friday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Barclays increased their target price on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus target price of $370.50.

LPL Financial Stock Performance

NASDAQ LPLA opened at $366.89 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $27.47 billion, a P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87. The stock has a 50-day simple moving average of $335.66 and a two-hundred day simple moving average of $274.40. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $375.74.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. On average, equities analysts forecast that LPL Financial will post 16.17 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s payout ratio is currently 9.02%.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial 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 sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC raised its position in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after buying an additional 650,675 shares during the period. Geode Capital Management LLC lifted its holdings in shares of LPL Financial by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after acquiring an additional 36,474 shares during the period. JPMorgan Chase & Co. grew its stake in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares during the last quarter. Southpoint Capital Advisors LP grew its stake in shares of LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in LPL Financial by 21.6% during the third quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock valued at $165,369,000 after purchasing an additional 126,266 shares during the period. Institutional investors own 95.66% of the company’s stock.

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 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.