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

LPL Financial (NASDAQ:LPLA) had its target price lifted by JPMorgan Chase & Co. from $397.00 to $405.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group upped their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Barclays raised their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective on the stock in a report on Monday, January 6th. Finally, Morgan Stanley upped their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Stock Up 1.4 %

LPLA opened at $366.89 on Friday. The firm 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 firm’s 50-day simple moving average is $335.66 and its 200-day simple moving average is $274.40. 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 twelve month low of $187.19 and a twelve month 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, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. Equities research analysts anticipate that LPL Financial will post 16.17 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio (DPR) is presently 9.02%.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction 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 sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors have recently bought and sold shares of LPLA. Sanchez Wealth Management Group lifted its holdings in LPL Financial by 2.1% during the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 35 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of LPL Financial by 4.1% during the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider’s stock worth $299,000 after buying an additional 36 shares during the period. Bridges Investment Management Inc. grew its stake in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after buying an additional 37 shares during the last quarter. Avior Wealth Management LLC raised its holdings in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares during the period. Finally, MFA Wealth Advisors LLC boosted its holdings 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 period. 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.