LPL Financial (NASDAQ:LPLA) Price Target Increased to $260.00 by Analysts at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLAGet Rating) had its price objective boosted by JPMorgan Chase & Co. from $259.00 to $260.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also issued reports on LPLA. UBS Group lowered LPL Financial from a buy rating to a neutral rating and lowered their price target for the stock from $305.00 to $230.00 in a research note on Thursday, November 17th. Credit Suisse Group boosted their price objective on LPL Financial from $276.00 to $285.00 in a research note on Thursday, November 17th. William Blair reissued an outperform rating on shares of LPL Financial in a research note on Tuesday, January 17th. JMP Securities boosted their price objective on LPL Financial from $287.00 to $290.00 and gave the stock a market outperform rating in a research note on Tuesday, January 10th. Finally, StockNews.com assumed coverage on LPL Financial in a research note on Wednesday, October 12th. They set a hold rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of Moderate Buy and a consensus target price of $262.63.

LPL Financial Stock Up 1.2 %

LPL Financial stock opened at $226.95 on Monday. The stock has a market capitalization of $18.07 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 0.26 and a beta of 0.92. LPL Financial has a 12 month low of $140.65 and a 12 month high of $271.56. The business has a 50 day simple moving average of $222.07 and a 200-day simple moving average of $224.34. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.50 and a quick ratio of 1.50.

LPL Financial (NASDAQ:LPLAGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The financial services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.29. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. LPL Financial had a return on equity of 40.28% and a net margin of 7.59%. On average, analysts anticipate that LPL Financial will post 11.28 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Thursday, November 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s dividend payout ratio is currently 12.84%.

Insider Buying and Selling at LPL Financial

In related news, Director Michelle Oroschakoff sold 5,213 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $213.80, for a total value of $1,114,539.40. Following the sale, the director now owns 41,100 shares in the company, valued at approximately $8,787,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Michelle Oroschakoff sold 5,213 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $213.80, for a total value of $1,114,539.40. Following the sale, the director now owns 41,100 shares in the company, valued at approximately $8,787,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 20,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $257.09, for a total value of $5,141,800.00. Following the completion of the sale, the chief financial officer now owns 12,667 shares in the company, valued at approximately $3,256,559.03. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several large investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. increased its holdings in LPL Financial by 22.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 41 shares during the period. Financial Management Professionals Inc. increased its holdings in LPL Financial by 13.9% during the 4th quarter. Financial Management Professionals Inc. now owns 508 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 62 shares during the period. Sanchez Wealth Management Group increased its holdings in LPL Financial by 4.6% during the 3rd quarter. Sanchez Wealth Management Group now owns 1,571 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 69 shares during the period. Advisors Asset Management Inc. increased its holdings in LPL Financial by 0.9% during the 1st quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 75 shares during the period. Finally, CWM LLC increased its holdings in LPL Financial by 8.5% during the 3rd quarter. CWM LLC now owns 1,018 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.

About LPL Financial

(Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

Featured Stories

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.