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

LPL Financial (NASDAQ:LPLA) had its price objective increased by Wells Fargo & Company from $390.00 to $405.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods upped their price objective on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $288.00 to $397.00 in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Morgan Stanley increased their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Citigroup lifted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Stock Up 1.4 %

LPL Financial stock opened at $366.89 on Friday. LPL Financial has a 52 week low of $187.19 and a 52 week high of $375.74. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87. The company’s 50-day moving average price is $335.66 and its two-hundred day moving average price is $274.40. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates 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, analysts expect that LPL Financial will post 16.17 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of LPL Financial by 24.4% during the 3rd 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 last quarter. Geode Capital Management LLC raised its position in LPL Financial by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after acquiring an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Southpoint Capital Advisors LP grew its position in LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of LPL Financial by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock worth $165,369,000 after purchasing an additional 126,266 shares during the last quarter. Hedge funds and other 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.