TD Cowen Raises LPL Financial (NASDAQ:LPLA) Price Target to $279.00

LPL Financial (NASDAQ:LPLA) had its price target increased by TD Cowen from $271.00 to $279.00 in a research report sent to investors on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on LPLA. Morgan Stanley upgraded LPL Financial from an equal weight rating to an overweight rating and lifted their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays lifted their price objective on LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a report on Monday, April 8th. JMP Securities reaffirmed a market outperform rating and set a $305.00 price objective on shares of LPL Financial in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Finally, Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They set an underperform rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $284.30.

LPL Financial Stock Down 0.1 %

LPL Financial stock opened at $272.94 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. LPL Financial has a 1-year low of $200.18 and a 1-year high of $289.88. The company has a market cap of $20.39 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The stock’s 50 day moving average price is $276.62 and its 200 day moving average price is $261.53.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.68 billion. On average, sell-side analysts predict that LPL Financial will post 15.85 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $0.30 dividend. The ex-dividend date was 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 9.06%.

Insider Transactions at LPL Financial

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the transaction, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new stake in LPL Financial during the fourth quarter valued at about $25,000. GAMMA Investing LLC purchased a new stake in LPL Financial during the fourth quarter valued at about $30,000. Gladius Capital Management LP purchased a new stake in LPL Financial during the fourth quarter valued at about $30,000. Riverview Trust Co purchased a new stake in LPL Financial during the first quarter valued at about $30,000. Finally, American National Bank purchased a new stake in LPL Financial during the fourth quarter valued at about $32,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.