Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) PT at $285.20

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have earned an average rating of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $288.89.

LPLA has been the topic of a number of analyst reports. TD Cowen lifted their target price on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group lifted their target price on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Raymond James initiated coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. Finally, Barclays dropped their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research report on Friday.

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in LPLA. Raymond James Financial Services Advisors Inc. grew its holdings in shares of LPL Financial by 66.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,219 shares of the financial services provider’s stock valued at $2,098,000 after purchasing an additional 3,691 shares during the last quarter. Quent Capital LLC grew its holdings in LPL Financial by 12.5% in the 4th quarter. Quent Capital LLC now owns 872 shares of the financial services provider’s stock worth $198,000 after buying an additional 97 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in 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 buying an additional 1,833 shares in the last quarter. State of Michigan Retirement System grew its holdings in 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 worth $387,000 after buying an additional 300 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in LPL Financial by 26.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 1,199 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Down 2.6 %

NASDAQ:LPLA opened at $215.51 on Thursday. The business’s 50-day moving average is $267.34 and its two-hundred day moving average is $261.92. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. LPL Financial has a 12 month low of $200.18 and a 12 month high of $289.88. The firm has a market capitalization of $16.10 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.90.

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

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.56%. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

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.