LPL Financial (NASDAQ:LPLA) Price Target Raised to $435.00

Key Points

• Keefe, Bruyette & Woods has raised LPL Financial's price target from $425.00 to $435.00, indicating a potential upside of 17.78% from the previous close.
• The company reported earnings of $4.51 EPS for the last quarter, exceeding estimates and marking a revenue increase of 30.8% year-over-year.
• Institutional investors hold 95.66% of the company's stock, with significant increases in holdings from several firms, including Dodge & Cox and Principal Financial Group.

LPL Financial (NASDAQ:LPLA - Free Report) had its price target raised by Keefe, Bruyette & Woods from $425.00 to $435.00 in a research note released on Monday,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Other research analysts also recently issued reports about the company. Morgan Stanley reiterated an "overweight" rating and issued a $490.00 target price (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Barclays raised their target price on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities upped their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $383.58.

LPL Financial Stock Performance

Shares of LPLA stock traded down $1.56 during mid-day trading on Monday, hitting $367.29. 63,380 shares of the stock were exchanged, compared to its average volume of 816,433. LPL Financial has a 12-month low of $193.22 and a 12-month high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.31 and a current ratio of 3.22. The stock has a market capitalization of $29.38 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 0.89 and a beta of 0.66. The stock's fifty day simple moving average is $377.98 and its two-hundred day simple moving average is $355.70.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $3.88 earnings per share. The company's revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts forecast that LPL Financial will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Insider Buying and Selling

In other news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in LPL Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock valued at $2,411,956,000 after acquiring an additional 154,200 shares in the last quarter. Boston Partners boosted its position in shares of LPL Financial by 4.6% in the 2nd quarter. Boston Partners now owns 3,674,564 shares of the financial services provider's stock valued at $1,377,753,000 after purchasing an additional 160,281 shares during the period. Janus Henderson Group PLC lifted its stake in LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after buying an additional 522,032 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of LPL Financial by 0.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider's stock valued at $877,264,000 after acquiring an additional 20,881 shares during the period. Finally, WCM Investment Management LLC boosted its stake in LPL Financial by 5.8% in the 2nd quarter. WCM Investment Management LLC now owns 1,730,777 shares of the financial services provider's stock worth $631,664,000 after purchasing an additional 95,423 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

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.