LPL Financial (NASDAQ:LPLA) PT Raised to $268.00

LPL Financial (NASDAQ:LPLA) had its price objective boosted by JPMorgan Chase & Co. from $261.00 to $268.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. UBS Group boosted their price objective on LPL Financial from $285.00 to $290.00 and gave the company a neutral rating in a research report on Tuesday. Raymond James initiated coverage on LPL Financial in a research report on Thursday, April 4th. They set an underperform rating for the company. Morgan Stanley upgraded LPL Financial from an equal weight rating to an overweight rating and boosted their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. JMP Securities reiterated a market outperform rating and set a $305.00 price target on shares of LPL Financial in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the stock a buy rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $285.20.

LPL Financial Stock Down 2.8 %

LPL Financial stock opened at $265.22 on Thursday. The stock has a market capitalization of $19.81 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. LPL Financial has a 12 month low of $200.18 and a 12 month high of $289.88. The business has a 50 day simple moving average of $276.53 and a 200-day simple moving average of $261.56. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. On average, analysts anticipate that LPL Financial will post 15.77 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently modified their holdings of LPLA. EdgeRock Capital LLC acquired a new position in LPL Financial during the 4th quarter worth about $25,000. GAMMA Investing LLC acquired a new position in LPL Financial during the 4th quarter worth about $30,000. Gladius Capital Management LP acquired a new position in LPL Financial during the 4th quarter worth about $30,000. Riverview Trust Co acquired a new position in LPL Financial during the 1st quarter worth about $30,000. Finally, American National Bank acquired a new position in LPL Financial during the 4th quarter worth about $32,000. 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.