LPL Financial (NASDAQ:LPLA) Price Target Raised to $450.00 at Barclays

LPL Financial (NASDAQ:LPLA - Free Report) had its price target raised by Barclays from $400.00 to $450.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of LPL Financial from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Wells Fargo & Company lowered their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities upped their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a report on Monday. Finally, Morgan Stanley boosted their price target on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $387.69.

LPL Financial Trading Down 0.6%

LPLA traded down $2.14 during midday trading on Monday, hitting $377.08. 528,319 shares of the company were exchanged, compared to its average volume of 836,389. The firm's 50 day moving average price is $343.53 and its 200-day moving average price is $342.30. LPL Financial has a 1-year low of $187.19 and a 1-year high of $398.67. The firm has a market capitalization of $30.16 billion, a P/E ratio of 26.86, a P/E/G ratio of 0.94 and a beta of 0.67. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

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

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is presently 8.30%.

Institutional Investors Weigh In On LPL Financial

Several institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC boosted 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 acquiring an additional 28 shares during the last quarter. Colonial Trust Co SC grew its position in LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after purchasing an additional 29 shares in the last quarter. Compass Financial Services Inc increased its stake in LPL Financial by 14.5% in the 1st quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock valued at $75,000 after buying an additional 29 shares during the last quarter. Wealth Alliance increased its stake in LPL Financial by 2.1% in the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after buying an additional 30 shares during the last quarter. Finally, United Capital Financial Advisors LLC lifted its position in shares of LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after buying an additional 31 shares in the last quarter. Institutional investors 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.