Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) Price Target at $276.20

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $276.20.

LPLA has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. TD Cowen boosted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, Barclays upped their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th.

Insider Activity

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mawer Investment Management Ltd. acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $3,375,000. Hudson Bay Capital Management LP grew its holdings in LPL Financial by 42.9% in the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock valued at $11,882,000 after buying an additional 15,000 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of LPL Financial by 15.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after acquiring an additional 4,686 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of LPL Financial by 228.6% during the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after acquiring an additional 38,839 shares during the period. Finally, Boston Partners boosted its position in shares of LPL Financial by 21.5% during the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after acquiring an additional 181,594 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPLA opened at $282.00 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The firm has a 50 day moving average of $275.65 and a two-hundred day moving average of $259.55. LPL Financial has a 12-month low of $200.18 and a 12-month high of $289.88. The firm has a market capitalization of $21.07 billion, a PE ratio of 21.30, a P/E/G ratio of 1.11 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating the consensus estimate of $3.77 by $0.44. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. On average, analysts anticipate that LPL Financial will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, May 20th. LPL Financial’s payout ratio is 9.06%.

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.