Jefferies Financial Group Increases LPL Financial (NASDAQ:LPLA) Price Target to $334.00

LPL Financial (NASDAQ:LPLA) had its target price increased by Jefferies Financial Group from $322.00 to $334.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on LPLA. TD Cowen lifted their price objective on LPL Financial from $271.00 to $279.00 and gave the company a hold rating in a report on Monday. Morgan Stanley upgraded LPL Financial from an equal weight rating to an overweight rating and lifted their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. Raymond James began coverage on LPL Financial in a report on Thursday, April 4th. They issued an underperform rating for the company. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Finally, JMP Securities reiterated a market outperform rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of Hold and an average price target of $285.20.

LPL Financial Stock Down 2.8 %

Shares of LPLA opened at $265.22 on Monday. The firm has a market capitalization of $19.81 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.09 and a beta of 0.90. LPL Financial has a 12-month low of $200.18 and a 12-month high of $289.88. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The firm has a fifty day moving average price of $276.53 and a 200-day moving average price of $261.56.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share 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 the consensus estimate of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. Equities research analysts expect that LPL Financial will post 15.85 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Large investors have recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in LPL Financial in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in LPL Financial in the fourth quarter valued at approximately $30,000. Gladius Capital Management LP purchased a new stake in LPL Financial in the fourth quarter valued at approximately $30,000. Riverview Trust Co purchased a new stake in LPL Financial in the first quarter valued at approximately $30,000. Finally, American National Bank purchased a new stake in LPL Financial in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.