Credit Suisse Group Raises LPL Financial (NASDAQ:LPLA) Price Target to $285.00

LPL Financial (NASDAQ:LPLAGet Rating) had its price objective hoisted by Credit Suisse Group from $276.00 to $285.00 in a report issued on Thursday, The Fly reports.

A number of other research firms have also recently commented on LPLA. Morgan Stanley lifted their price target on LPL Financial from $259.00 to $281.00 and gave the stock an overweight rating in a report on Monday, October 31st. Citigroup began coverage on LPL Financial in a report on Tuesday, October 11th. They set a buy rating and a $290.00 price objective for the company. JMP Securities boosted their price objective on LPL Financial from $245.00 to $270.00 and gave the stock a market outperform rating in a report on Tuesday, October 11th. UBS Group lifted their price target on shares of LPL Financial from $212.00 to $250.00 and gave the company a buy rating in a research report on Thursday, August 4th. Finally, StockNews.com initiated coverage on shares of LPL Financial in a research report on Wednesday, October 12th. They issued a hold rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, LPL Financial has an average rating of Moderate Buy and a consensus target price of $252.86.

LPL Financial Trading Up 0.3 %

LPL Financial stock opened at $218.22 on Thursday. LPL Financial has a 52 week low of $140.65 and a 52 week high of $271.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $17.37 billion, a P/E ratio of 28.01, a PEG ratio of 0.37 and a beta of 0.94. The stock has a 50-day simple moving average of $238.52 and a 200 day simple moving average of $212.38.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.00 annualized dividend and a yield of 0.46%. LPL Financial’s dividend payout ratio is currently 12.84%.

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $240.27, for a total transaction of $4,805,400.00. Following the completion of the transaction, the chief executive officer now directly owns 157,823 shares in the company, valued at $37,920,132.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of LPL Financial

Several institutional investors have recently modified their holdings of the business. Benjamin Edwards Inc. grew its stake in shares of LPL Financial by 22.3% in the third 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 last quarter. Arizona State Retirement System grew its stake in shares of LPL Financial by 0.3% in the first quarter. Arizona State Retirement System now owns 21,665 shares of the financial services provider’s stock worth $3,958,000 after purchasing an additional 67 shares during the last quarter. Signaturefd LLC grew its stake in shares of LPL Financial by 14.5% in the first quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 68 shares during the last quarter. Sanchez Wealth Management Group grew its stake in shares of LPL Financial by 4.6% in the third 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 last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of LPL Financial by 0.9% in the first 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 last quarter.

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 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.

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