LPL Financial (NASDAQ:LPLA) Price Target Raised to $420.00

LPL Financial (NASDAQ:LPLA) had its price objective hoisted by UBS Group from $390.00 to $420.00 in a research note released on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on LPLA. Barclays raised their price target on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research report on Friday. Wells Fargo & Company lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $370.50.

LPL Financial Price Performance

Shares of LPLA opened at $366.89 on Friday. The firm has a market capitalization of $27.47 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. 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 company’s fifty day moving average price is $335.66 and its 200-day moving average price is $274.40. LPL Financial has a 1-year low of $187.19 and a 1-year high of $375.74.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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%. On average, equities research analysts predict that LPL Financial will post 16.17 EPS for the current year.

LPL Financial Dividend Announcement

The business 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 $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s dividend payout ratio is currently 9.02%.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the 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 directly owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares during the last quarter. Southpoint Capital Advisors LP increased its holdings in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after buying an additional 250,000 shares during the last quarter. Maverick Capital Ltd. lifted its holdings in LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after acquiring an additional 223,931 shares during the last quarter. Finally, Azora Capital LP grew its position in LPL Financial by 52.2% in the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after acquiring an additional 220,622 shares during the period. Institutional investors and hedge funds 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.