LPL Financial (NASDAQ:LPLA) Price Target Raised to $414.00

LPL Financial (NASDAQ:LPLA) had its price target raised by Barclays from $389.00 to $414.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on LPLA. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One research 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’s stock. According to MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $370.50.

LPL Financial Trading Up 1.4 %

Shares of LPLA opened at $366.89 on Friday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $375.74. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization 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 has a 50-day moving average of $335.66 and a 200 day moving average of $274.40.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating 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, research analysts expect that LPL Financial will post 16.17 EPS for the current 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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Insider Activity

In related 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 value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC purchased a new position in LPL Financial during the third quarter worth about $34,000. Brooklyn Investment Group purchased a new position in LPL Financial during the third quarter worth about $43,000. Compass Financial Services Inc purchased a new position in LPL Financial during the fourth quarter worth about $65,000. Finally, R Squared Ltd purchased a new position in shares of LPL Financial in the fourth quarter valued at approximately $78,000. 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.