LPL Financial (NASDAQ:LPLA) Lowered to “Neutral” Rating by Citigroup

Citigroup lowered shares of LPL Financial (NASDAQ:LPLA) from a buy rating to a neutral rating in a report published on Monday morning, MarketBeat.com reports. Citigroup currently has $400.00 target price on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Redburn Atlantic raised shares of LPL Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $420.00 to $460.00 in a report on Monday. Wells Fargo & Company reduced their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Finally, Barclays lifted their target price on shares of LPL Financial from $365.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $387.69.

LPL Financial Trading Down 2.2%

LPLA stock opened at $380.39 on Monday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $390.23. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $342.20 and its 200-day moving average is $342.04. The firm has a market cap of $30.42 billion, a P/E ratio of 27.09, a P/E/G ratio of 0.94 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm earned $3.83 EPS. LPL Financial’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial’s dividend payout ratio (DPR) is currently 8.30%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in LPL Financial during the 1st quarter worth $1,360,000. Siren L.L.C. acquired a new stake in shares of LPL Financial in the 1st quarter valued at $2,454,000. Mattson Financial Services LLC raised its position in shares of LPL Financial by 15.1% during the first quarter. Mattson Financial Services LLC now owns 594 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 78 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of LPL Financial during the first quarter valued at $121,000. Finally, Focus Partners Wealth lifted its stake in shares of LPL Financial by 12.2% during the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after acquiring an additional 473 shares during the period. 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.