LPL Financial (NASDAQ:LPLA) PT Raised to $271.00 at TD Cowen

LPL Financial (NASDAQ:LPLA) had its price target hoisted by TD Cowen from $269.00 to $271.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other research firms have also recently commented on LPLA. JMP Securities increased their target price on shares of LPL Financial from $290.00 to $305.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. Barclays lifted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a report on Monday, April 8th. UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded shares of LPL Financial from an equal weight rating to an overweight rating and lifted their price objective for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an underperform rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, LPL Financial presently has an average rating of Hold and a consensus price target of $276.20.

LPL Financial Trading Up 0.5 %

LPLA opened at $270.79 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.83. LPL Financial has a 12 month low of $179.00 and a 12 month high of $276.12. The stock has a fifty day moving average price of $264.90 and a 200-day moving average price of $243.15.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company posted $4.21 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that LPL Financial will post 15.63 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the sale, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,151 shares of company stock worth $15,911,088. Company insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several large investors have recently bought and sold shares of LPLA. EdgeRock Capital LLC purchased a new stake in LPL Financial during the 4th quarter valued at about $25,000. Smithfield Trust Co raised its position in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after buying an additional 74 shares during the period. GAMMA Investing LLC purchased a new position in LPL Financial in the fourth quarter worth approximately $30,000. Gladius Capital Management LP acquired a new stake in LPL Financial during the fourth quarter worth $30,000. Finally, Riverview Trust Co acquired a new position in shares of LPL Financial in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

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.