LPL Financial (NASDAQ:LPLA) Rating Lowered to Neutral at UBS Group

UBS Group lowered shares of LPL Financial (NASDAQ:LPLAGet Rating) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat.com reports. They currently have $230.00 price objective on the financial services provider’s stock, down from their previous price objective of $305.00.

Other equities research analysts also recently issued research reports about the company. Citigroup initiated coverage on LPL Financial in a research report on Tuesday, October 11th. They issued a buy rating and a $290.00 price objective for the company. Morgan Stanley increased their target price on shares of LPL Financial from $259.00 to $281.00 and gave the stock an overweight rating in a research report on Monday, October 31st. JMP Securities upped their price target on LPL Financial from $245.00 to $270.00 and gave the stock a market outperform rating in a report on Tuesday, October 11th. StockNews.com assumed coverage on LPL Financial in a research note on Wednesday, October 12th. They set a hold rating for the company. Finally, Credit Suisse Group increased their target price on LPL Financial from $276.00 to $285.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $252.86.

LPL Financial Price Performance

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

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Thursday, November 10th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. LPL Financial’s payout ratio is currently 12.84%.

Insider Activity

In related news, CEO Dan H. Arnold sold 20,000 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $240.27, for a total value of $4,805,400.00. Following the completion of the sale, the chief executive officer now directly owns 157,823 shares of the company’s stock, valued at approximately $37,920,132.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. grew its stake in LPL Financial by 22.3% in the third quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of LPL Financial by 0.3% during the 1st quarter. Arizona State Retirement System now owns 21,665 shares of the financial services provider’s stock worth $3,958,000 after acquiring an additional 67 shares in the last quarter. Signaturefd LLC boosted its stake in shares of LPL Financial by 14.5% during the 1st quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 68 shares in the last quarter. Sanchez Wealth Management Group boosted its stake in shares of 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 acquiring an additional 69 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of 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 acquiring an additional 75 shares in the last quarter.

LPL Financial Company Profile

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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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