LPL Financial (NASDAQ:LPLA) Price Target Raised to $414.00

LPL Financial (NASDAQ:LPLA) had its price target raised by Barclays from $389.00 to $414.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the company. Morgan Stanley raised their target price on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group cut their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Citigroup increased their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Stock Up 1.4 %

LPLA stock opened at $366.89 on Friday. The business’s 50-day moving average is $335.66 and its two-hundred day moving average is $273.82. The company has a market cap of $27.47 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.11 and a beta of 0.87. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $375.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

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, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. As a group, analysts forecast that LPL Financial will post 16.17 earnings per share for the current year.

LPL Financial Announces Dividend

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

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of large investors have recently made changes to their positions in LPLA. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial in the third quarter worth approximately $31,000. Paladin Wealth LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at about $34,000. Brooklyn Investment Group purchased a new stake in LPL Financial during the third quarter worth $43,000. Compass Financial Services Inc bought a new stake in LPL Financial during the fourth quarter valued at about $65,000. Finally, R Squared Ltd purchased a new position in shares of LPL Financial in the 4th quarter worth approximately $78,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.