Wall Street Zen Upgrades LPL Financial (NASDAQ:LPLA) to Buy

Wall Street Zen upgraded shares of LPL Financial (NASDAQ:LPLA - Free Report) from a hold rating to a buy rating in a report released on Thursday.

LPLA has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price target on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Morgan Stanley increased their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Barclays increased their price target on shares of LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. JMP Securities increased their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Finally, Keefe, Bruyette & Woods boosted their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $377.50.

LPL Financial Stock Performance

NASDAQ LPLA traded down $3.10 on Thursday, reaching $384.45. The stock had a trading volume of 1,194,292 shares, compared to its average volume of 839,731. The stock has a market cap of $30.75 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. LPL Financial has a 12-month low of $187.19 and a 12-month high of $390.23. The business's 50-day moving average price is $336.50 and its 200 day moving average price is $339.01. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $3.83 EPS. As a group, equities analysts expect that LPL Financial will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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

Hedge Funds Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in LPL Financial in the first quarter valued at approximately $26,000. Millstone Evans Group LLC raised its stake in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares during the period. Graney & King LLC acquired a new position in shares of LPL Financial during the 4th quarter valued at $30,000. Private Trust Co. NA lifted its holdings in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after purchasing an additional 39 shares during the period. 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.