LPL Financial (NASDAQ:LPLA) Price Target Cut to $315.00 by Analysts at Keefe, Bruyette & Woods

LPL Financial (NASDAQ:LPLA) had its price target cut by Keefe, Bruyette & Woods from $326.00 to $315.00 in a report published 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. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They set an underperform rating on the stock. Barclays dropped their target price on LPL Financial from $319.00 to $313.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group increased their price target on LPL Financial from $322.00 to $334.00 and gave the stock a buy rating in a report on Monday, July 8th. UBS Group boosted their price objective on shares of LPL Financial from $285.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial has a consensus rating of Hold and an average price target of $282.55.

LPL Financial Price Performance

LPLA stock opened at $221.24 on Friday. The business has a 50 day moving average price of $268.42 and a 200 day moving average price of $261.65. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.95 and a beta of 0.90. LPL Financial has a fifty-two week low of $200.18 and a fifty-two week high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 54.38% and a net margin of 8.91%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.94 earnings per share. Equities research analysts anticipate that LPL Financial will post 15.76 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Insider Activity at LPL Financial

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

Hedge Funds Weigh In On LPL Financial

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of LPL Financial by 66.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 9,219 shares of the financial services provider’s stock worth $2,098,000 after buying an additional 3,691 shares during the period. Quent Capital LLC increased its stake in LPL Financial by 12.5% during the fourth quarter. Quent Capital LLC now owns 872 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 97 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in shares of LPL Financial by 4.3% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 44,244 shares of the financial services provider’s stock worth $10,511,000 after purchasing an additional 1,833 shares during the period. State of Michigan Retirement System lifted its stake in shares of LPL Financial by 21.4% in the 4th quarter. State of Michigan Retirement System now owns 1,700 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 300 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of LPL Financial by 26.9% during the 4th quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 1,199 shares during the period. 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.