LPL Financial (NASDAQ:LPLA) Price Target Raised to $311.00

LPL Financial (NASDAQ:LPLA) had its target price lifted by Barclays from $273.00 to $311.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

LPLA has been the topic of several other research reports. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. UBS Group upped their price target on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their target price on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Trading Down 0.5 %

Shares of LPLA stock opened at $280.81 on Thursday. LPL Financial has a 1 year low of $187.19 and a 1 year high of $291.67. The firm has a fifty day moving average price of $235.38 and a 200-day moving average price of $248.52. 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 company has a market cap of $20.99 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.52 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm posted $3.74 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial will post 15.77 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.43%. LPL Financial’s payout ratio is presently 9.02%.

Institutional Investors Weigh In On LPL Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in LPL Financial during the second quarter valued at approximately $28,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the third quarter valued at approximately $34,000. Crewe Advisors LLC lifted its position in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its position in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors 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.