LPL Financial (NASDAQ:LPLA) Stock Rating Reaffirmed by JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of LPL Financial (NASDAQ:LPLAFree Report) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $290.00 price target on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley cut their target price on LPL Financial from $260.00 to $252.00 and set an equal weight rating on the stock in a research note on Monday, October 30th. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $230.00 to $251.00 and gave the stock a neutral rating in a research report on Tuesday, October 10th. Redburn Atlantic assumed coverage on LPL Financial in a research report on Friday, December 1st. They issued a neutral rating and a $240.00 price objective on the stock. StockNews.com began coverage on LPL Financial in a research report on Thursday, October 5th. They issued a hold rating on the stock. Finally, Barclays lowered their price target on shares of LPL Financial from $277.00 to $265.00 and set an overweight rating on the stock in a report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has an average rating of Hold and an average price target of $246.91.

Check Out Our Latest Analysis on LPLA

LPL Financial Trading Up 4.5 %

LPLA opened at $251.21 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.87 and a quick ratio of 1.87. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $259.27. The firm has a market capitalization of $19.00 billion, a PE ratio of 18.40, a P/E/G ratio of 0.73 and a beta of 0.83. The company’s 50-day moving average is $229.52 and its 200 day moving average is $230.46.

LPL Financial (NASDAQ:LPLAGet Free Report) last posted its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.30%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.21 EPS. As a group, research analysts predict that LPL Financial will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.48%. LPL Financial’s payout ratio is 8.79%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new position in LPL Financial in the 2nd quarter worth about $217,000. Headlands Technologies LLC bought a new position in LPL Financial in the 2nd quarter worth about $1,222,000. Victory Capital Management Inc. boosted its stake in LPL Financial by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 233,205 shares of the financial services provider’s stock worth $55,421,000 after purchasing an additional 8,570 shares during the period. Hallmark Capital Management Inc. purchased a new stake in shares of LPL Financial in the second quarter worth $278,000. Finally, Markel Group Inc. raised its position in shares of LPL Financial by 137.1% in the third quarter. Markel Group Inc. now owns 301,264 shares of the financial services provider’s stock worth $71,595,000 after buying an additional 174,205 shares in the last quarter. Institutional investors own 92.84% of the company’s stock.

LPL Financial Company Profile

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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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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