Analysts Set LPL Financial Holdings Inc. (NASDAQ:LPLA) Price Target at $275.27

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been given an average rating of “Hold” by the twelve brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $275.27.

Several brokerages have issued reports on LPLA. Jefferies Financial Group raised their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods dropped their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. UBS Group dropped their price objective on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. TD Cowen raised their price objective on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company started coverage on LPL Financial in a report on Thursday. They set an “equal weight” rating and a $235.00 price target on the stock.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after purchasing an additional 48,439 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after acquiring an additional 233,242 shares during the period. Boston Partners lifted its position in shares of LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after acquiring an additional 738,509 shares during the period. Samlyn Capital LLC lifted its position in shares of LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after acquiring an additional 88,635 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after acquiring an additional 275,286 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.6 %

LPL Financial stock opened at $205.71 on Friday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $15.37 billion, a PE ratio of 15.54, a P/E/G ratio of 1.20 and a beta of 0.88. The stock’s fifty day moving average is $221.86 and its two-hundred day moving average is $253.67.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.94 earnings per share. On average, sell-side analysts expect that LPL Financial will post 15.9 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio is presently 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.