LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by Redburn Atlantic

Redburn Atlantic upgraded shares of LPL Financial (NASDAQ:LPLA - Free Report) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat.com reports. The brokerage currently has $460.00 target price on the financial services provider's stock, up from their prior target price of $420.00.

Several other equities analysts have also recently issued reports on LPLA. Citigroup dropped their target price on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JMP Securities boosted their target price on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Wall Street Zen upgraded LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Wells Fargo & Company lowered their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays upped their price target on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Stock Performance

LPLA traded down $2.14 on Monday, hitting $377.08. 528,319 shares of the company traded hands, compared to its average volume of 838,099. The company has a 50 day moving average of $345.41 and a 200-day moving average of $342.54. 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 market capitalization of $30.16 billion, a PE ratio of 26.86, a PEG ratio of 0.94 and a beta of 0.67. LPL Financial has a 12-month low of $187.19 and a 12-month high of $390.23.

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 (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $3.83 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently bought and sold shares of LPLA. Dodge & Cox lifted its stake in shares of LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after purchasing an additional 1,053,351 shares during the period. Principal Financial Group Inc. lifted its stake in shares of LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after purchasing an additional 971,814 shares during the period. Norges Bank purchased a new position in shares of LPL Financial during the 4th quarter worth $305,747,000. Raymond James Financial Inc. purchased a new position in shares of LPL Financial during the 4th quarter worth $295,982,000. Finally, Jennison Associates LLC lifted its stake in shares of LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after purchasing an additional 851,115 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.