LPL Financial (NASDAQ:LPLA) Price Target Raised to $290.00

LPL Financial (NASDAQ:LPLA) had its price objective boosted by UBS Group from $285.00 to $290.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley raised shares of LPL Financial from an equal weight rating to an overweight rating and raised their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a research report on Tuesday, April 2nd. Jefferies Financial Group raised their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the stock a buy rating in a research note on Monday. JMP Securities reaffirmed a market outperform rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. Finally, Barclays raised their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $285.20.

LPL Financial Stock Performance

LPLA stock opened at $265.22 on Tuesday. The firm has a market cap of $19.81 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.09 and a beta of 0.90. The firm has a 50-day simple moving average of $276.53 and a two-hundred day simple moving average of $261.56. LPL Financial has a one year low of $200.18 and a one year high of $289.88. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating the consensus estimate of $3.77 by $0.44. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. On average, equities analysts forecast that LPL Financial will post 15.77 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. LPL Financial’s payout ratio is currently 9.06%.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DGS Capital Management LLC raised its holdings in LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after buying an additional 44 shares during the period. Oliver Luxxe Assets LLC raised its holdings in LPL Financial by 0.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 48 shares during the period. CWM LLC raised its holdings in LPL Financial by 6.0% in the 4th quarter. CWM LLC now owns 985 shares of the financial services provider’s stock valued at $224,000 after buying an additional 56 shares during the period. Gulf International Bank UK Ltd raised its holdings in LPL Financial by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 60 shares during the period. Finally, LVW Advisors LLC raised its holdings in LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock valued at $857,000 after buying an additional 61 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.