Keefe, Bruyette & Woods Increases LPL Financial (NASDAQ:LPLA) Price Target to $405.00

LPL Financial (NASDAQ:LPLA) had its price objective hoisted by Keefe, Bruyette & Woods from $390.00 to $405.00 in a research note released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on LPLA. JPMorgan Chase & Co. raised LPL Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley upped their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Trading Up 1.4 %

Shares of NASDAQ:LPLA opened at $366.89 on Friday. LPL Financial has a 1 year low of $187.19 and a 1 year high of $375.74. The firm has a fifty day moving average price of $335.66 and a 200 day moving average price of $273.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $27.47 billion, a PE ratio of 27.59, a P/E/G ratio of 1.11 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. Analysts expect that LPL Financial will post 16.17 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio is 9.02%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently made changes to their positions in the company. Prossimo Advisors LLC grew its stake in LPL Financial by 69.4% during the fourth quarter. Prossimo Advisors LLC now owns 3,785 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 1,550 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of LPL Financial by 16.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 2,319 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 334 shares in the last quarter. Pinnbrook Capital Management LP bought a new stake in LPL Financial during the 4th quarter worth approximately $4,991,000. Truist Financial Corp increased its holdings in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after purchasing an additional 14,106 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in LPL Financial by 20.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,301 shares of the financial services provider’s stock valued at $1,078,000 after purchasing an additional 552 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

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.