LPL Financial’s (LPLA) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of LPL Financial (NASDAQ:LPLA) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $435.00 price objective on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. upgraded LPL Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Citigroup raised their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Stock Performance

Shares of LPLA opened at $366.89 on Friday. LPL Financial has a one year low of $187.19 and a one year high of $375.74. The business has a fifty day moving average of $335.66 and a 200 day moving average of $274.40. 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 P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that LPL Financial will post 16.17 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is 9.02%.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’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 $1,301,204.80. This trade represents 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 at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of LPLA. Sanchez Wealth Management Group boosted its position in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after buying an additional 35 shares during the period. Mather Group LLC. grew its position 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 in the last quarter. Bridges Investment Management Inc. lifted its stake in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares during the period. Avior Wealth Management LLC boosted its stake in shares of LPL Financial by 1.8% during the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 42 shares in the last quarter. Finally, MFA Wealth Advisors LLC boosted its position in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 43 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

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.