Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) Price Target at $286.92

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $286.92.

A number of equities analysts have recently issued reports on the stock. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Morgan Stanley lifted their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th.

LPL Financial Stock Up 11.7 %

Shares of NASDAQ:LPLA opened at $308.16 on Friday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $309.00. 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 $23.04 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.34 and a beta of 0.85. The firm has a fifty day moving average price of $239.07 and a 200 day moving average price of $249.06.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the firm earned $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that LPL Financial will post 16.03 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.39%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LPLA. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of LPL Financial by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock valued at $2,292,000 after acquiring an additional 313 shares during the period. Norden Group LLC acquired a new position in LPL Financial during the 1st quarter valued at about $889,000. Commonwealth Equity Services LLC grew its position in LPL Financial by 33.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,473 shares of the financial services provider’s stock worth $1,446,000 after purchasing an additional 1,380 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of LPL Financial in the first quarter valued at approximately $208,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of LPL Financial by 14.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,195 shares of the financial services provider’s stock valued at $2,954,000 after buying an additional 1,519 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.