LPL Financial (NASDAQ:LPLA) Price Target Raised to $390.00 at Keefe, Bruyette & Woods

LPL Financial (NASDAQ:LPLA) had its target price raised by Keefe, Bruyette & Woods from $325.00 to $390.00 in a report released on Friday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research firms have also issued reports on LPLA. Morgan Stanley upped their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Citigroup upped their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. JMP Securities restated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Finally, TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $277.00 to $413.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $322.75.

LPL Financial Stock Up 0.1 %

LPL Financial stock opened at $327.93 on Friday. The firm has a market capitalization of $24.56 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $334.83. The stock’s fifty day moving average is $302.23 and its two-hundred day moving average is $260.19.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that LPL Financial will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

A number of institutional investors and hedge funds have recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter worth approximately $25,000. Key Financial Inc purchased a new stake in LPL Financial during the 2nd quarter worth $28,000. Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC purchased a new position in LPL Financial in the third quarter valued at about $34,000. Finally, Crewe Advisors LLC lifted its stake in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. 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.