LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, TD Cowen Analyst Says

LPL Financial (NASDAQ:LPLA) had its price objective raised by TD Cowen from $271.00 to $277.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Citigroup reduced their price objective on LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Barclays decreased their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Jefferies Financial Group dropped their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, UBS Group boosted their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.31.

LPL Financial Stock Down 0.5 %

NASDAQ:LPLA traded down $1.54 during trading hours on Thursday, hitting $280.64. 231,722 shares of the company’s stock traded hands, compared to its average volume of 734,893. The stock’s fifty day moving average price is $234.24 and its two-hundred day moving average price is $248.48. The firm has a market cap of $20.98 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a twelve month low of $187.19 and a twelve month high of $291.67.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business posted $3.74 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that LPL Financial will post 15.71 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Institutional Trading of LPL Financial

A number of large investors have recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial during the second quarter worth $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the 2nd quarter valued at about $28,000. Crewe Advisors LLC boosted its position in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Tortoise Investment Management LLC grew its holdings in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Paladin Wealth LLC bought a new stake in LPL Financial in the 3rd quarter valued at approximately $34,000. 95.66% of the stock is owned by institutional investors.

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.