LPL Financial (NASDAQ:LPLA) Price Target Raised to $405.00

LPL Financial (NASDAQ:LPLA) had its price target hoisted by Wells Fargo & Company from $390.00 to $405.00 in a research note published on Friday,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. The Goldman Sachs Group upped their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, Jefferies Financial Group decreased their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and an average target price of $370.50.

LPL Financial Stock Up 1.4 %

LPLA stock opened at $366.89 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a 50 day simple moving average of $335.66 and a 200-day simple moving average of $273.82. The company has a market capitalization of $27.47 billion, a P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87. LPL Financial has a twelve month low of $187.19 and a twelve month high of $375.74.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. On average, equities research analysts predict that LPL Financial will post 16.17 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Insider Transactions at LPL Financial

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

Hedge Funds Weigh In On LPL Financial

Several large investors have recently bought and sold shares of LPLA. FMR LLC raised its stake in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Geode Capital Management LLC grew its holdings in LPL Financial by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after acquiring an additional 36,474 shares during the period. JPMorgan Chase & Co. raised its position in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP lifted its holdings in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of LPL Financial by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock valued at $165,369,000 after purchasing an additional 126,266 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.