LPL Financial (NASDAQ:LPLA) PT Raised to $309.00

LPL Financial (NASDAQ:LPLA) had its price objective increased by Morgan Stanley from $303.00 to $309.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on LPLA. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. Jefferies Financial Group decreased their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. TD Cowen raised their target price on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $277.77.

LPL Financial Stock Down 1.4 %

LPLA stock opened at $258.62 on Thursday. The firm has a market capitalization of $19.32 billion, a PE ratio of 19.53, a P/E/G ratio of 1.32 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial has a twelve month low of $187.19 and a twelve month high of $289.88. The stock’s 50 day moving average is $225.63 and its 200-day moving average is $248.11.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the business earned $3.94 EPS. The business’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts expect that LPL Financial will post 15.79 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after acquiring an additional 48,439 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Boston Partners boosted its stake in LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the period. Samlyn Capital LLC grew its holdings in LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after buying an additional 275,286 shares during the period. 95.66% of the stock is owned by institutional investors.

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.