LPL Financial (NASDAQ:LPLA) Given New $279.00 Price Target at TD Cowen

LPL Financial (NASDAQ:LPLAFree Report) had its target price boosted by TD Cowen from $271.00 to $279.00 in a report released on Monday, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

LPLA has been the subject of a number of other research reports. Barclays lifted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. JMP Securities reiterated a market outperform rating and issued a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. Morgan Stanley upgraded LPL Financial from an equal weight rating to an overweight rating and lifted their target price for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. Finally, Raymond James started coverage on LPL Financial in a report on Thursday, April 4th. They set an underperform rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $282.00.

Get Our Latest Report on LPLA

LPL Financial Stock Down 1.3 %

NASDAQ:LPLA opened at $272.52 on Monday. LPL Financial has a 52 week low of $200.18 and a 52 week high of $289.88. 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’s fifty day moving average is $276.39 and its two-hundred day moving average is $261.12. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

LPL Financial (NASDAQ:LPLAGet Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.44. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. Research analysts anticipate that LPL Financial will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now directly 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 accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently bought and sold shares of LPLA. EdgeRock Capital LLC purchased a new stake in shares of LPL Financial in the 4th quarter valued at about $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 acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $30,000. Riverview Trust Co acquired a new stake in shares of LPL Financial in the first quarter valued at approximately $30,000. Finally, American National Bank purchased a new position in shares of LPL Financial during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

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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.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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