LPL Financial (NASDAQ:LPLA) Price Target Raised to $400.00

LPL Financial (NASDAQ:LPLA - Free Report) had its price target boosted by Barclays from $365.00 to $400.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Several other equities analysts have also recently issued reports on the company. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Citigroup decreased their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, UBS Group upped their price target on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $374.42.

LPL Financial Price Performance

Shares of LPL Financial stock traded down $3.97 on Monday, reaching $381.08. The company's stock had a trading volume of 225,842 shares, compared to its average volume of 830,903. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a 50-day moving average price of $323.22 and a 200-day moving average price of $331.40. The company has a market capitalization of $30.24 billion, a P/E ratio of 27.19, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial has a 52-week low of $187.19 and a 52-week high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 earnings per share. Analysts expect that LPL Financial will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is 8.30%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. This trade represents a 21.26% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC raised its holdings in LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after buying an additional 28 shares during the period. Colonial Trust Co SC raised its stake in shares of LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after acquiring an additional 29 shares in the last quarter. Wealth Alliance lifted its position in LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after acquiring an additional 30 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings in LPL Financial by 2.6% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after buying an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group grew its position in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after purchasing an additional 35 shares during the last quarter. 95.66% of the stock is 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.