LPL Financial (NASDAQ:LPLA) Given New $290.00 Price Target at UBS Group

LPL Financial (NASDAQ:LPLA) had its price objective lifted by UBS Group from $285.00 to $290.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a research report on Tuesday, April 2nd. Barclays increased their target price on LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a research report on Monday, April 8th. Morgan Stanley upgraded LPL Financial from an equal weight rating to an overweight rating and increased their target price for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. TD Cowen increased their target price on LPL Financial from $271.00 to $279.00 and gave the company a hold rating in a research report on Monday, July 8th. Finally, Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They issued an underperform rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $285.20.

LPL Financial Price Performance

Shares of LPLA stock opened at $263.66 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial has a twelve month low of $200.18 and a twelve month high of $289.88. The company has a market cap of $19.70 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.09 and a beta of 0.90. The business has a fifty day simple moving average of $276.39 and a 200 day simple moving average of $261.82.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. On average, sell-side analysts forecast that LPL Financial will post 15.77 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. LPL Financial’s payout ratio is 9.06%.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LPL Financial

Large investors have recently added to or reduced their stakes in the business. Mawer Investment Management Ltd. acquired a new stake in LPL Financial during the fourth quarter worth approximately $3,375,000. Hudson Bay Capital Management LP boosted its holdings in LPL Financial by 42.9% in the third quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock worth $11,882,000 after acquiring an additional 15,000 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in LPL Financial by 15.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after acquiring an additional 4,686 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in LPL Financial by 228.6% in the fourth quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after acquiring an additional 38,839 shares in the last quarter. Finally, Boston Partners boosted its holdings in LPL Financial by 21.5% in the fourth quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock worth $233,744,000 after acquiring an additional 181,594 shares in the last quarter. 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.