LPL Financial (NASDAQ:LPLA) Price Target Cut to $433.00 by Analysts at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) had its target price trimmed by JPMorgan Chase & Co. from $440.00 to $433.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. UBS Group restated a “neutral” rating and issued a $406.00 target price on shares of LPL Financial in a research note on Thursday, December 11th. BMO Capital Markets began coverage on shares of LPL Financial in a report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price target for the company. Citizens Jmp raised their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research report on Friday, October 31st. Finally, Morgan Stanley cut their target price on LPL Financial from $462.00 to $447.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $429.80.

LPL Financial Trading Down 0.3%

Shares of LPLA stock opened at $364.41 on Tuesday. The company has a market capitalization of $29.17 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 0.76 and a beta of 0.57. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $365.27 and its two-hundred day moving average is $358.89. LPL Financial has a twelve month low of $262.83 and a twelve month high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the company earned $4.16 earnings per share. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. Equities analysts forecast that LPL Financial will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, November 13th. LPL Financial’s dividend payout ratio (DPR) is presently 11.05%.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the sale, the director owned 5,502 shares in the company, valued at $1,939,344.96. This represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.97, for a total value of $278,227.50. Following the transaction, the director directly owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. This represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,388 shares of company stock valued at $2,747,538 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently made changes to their positions in LPLA. Osterweis Capital Management Inc. purchased a new position in LPL Financial during the 2nd quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in shares of LPL Financial by 912.5% in the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in shares of LPL Financial during the 3rd quarter worth approximately $27,000. Eastern Bank increased its stake in shares of LPL Financial by 72.0% during the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.