LPL Financial (NASDAQ:LPLA) Price Target Raised to $405.00 at Keefe, Bruyette & Woods

LPL Financial (NASDAQ:LPLA) had its target price boosted by Keefe, Bruyette & Woods from $390.00 to $405.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently commented on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective on the stock in a research note on Monday, January 6th. Citigroup boosted their target price on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company increased their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.50.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $366.89 on Friday. LPL Financial has a 12-month low of $187.19 and a 12-month high of $375.74. The company has a market cap of $27.47 billion, a PE ratio of 27.59, a P/E/G ratio of 1.11 and a beta of 0.87. The stock has a 50 day simple moving average of $335.66 and a 200-day simple moving average of $273.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

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

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 annualized dividend and a yield of 0.33%. LPL Financial’s payout ratio is presently 9.02%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 in the company, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Creative Planning increased its holdings in shares of LPL Financial by 14.7% in the 2nd quarter. Creative Planning now owns 4,574 shares of the financial services provider’s stock valued at $1,278,000 after purchasing an additional 586 shares during the period. EP Wealth Advisors LLC purchased a new position in LPL Financial during the second quarter valued at approximately $227,000. Cetera Investment Advisers lifted its position in LPL Financial by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 14,439 shares of the financial services provider’s stock worth $4,033,000 after buying an additional 805 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of LPL Financial during the 2nd quarter valued at $3,478,000. Finally, Mattson Financial Services LLC purchased a new position in shares of LPL Financial during the 2nd quarter valued at $450,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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.