LPL Financial (NASDAQ:LPLA) Given New $273.00 Price Target at Barclays

LPL Financial (NASDAQ:LPLA) had its price objective reduced by Barclays from $313.00 to $273.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of LPL Financial from an equal weight rating to an overweight rating and upped their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on LPL Financial from $261.00 to $268.00 and gave the stock a neutral rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their price target on LPL Financial from $326.00 to $315.00 and set an outperform rating for the company in a report on Friday. Jefferies Financial Group raised their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a buy rating in a research note on Monday, July 8th. Finally, UBS Group boosted their target price on shares of LPL Financial from $285.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $283.30.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $215.51 on Friday. 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 fifty-two week low of $200.18 and a fifty-two week high of $289.88. The business has a 50 day moving average price of $267.34 and a two-hundred day moving average price of $261.92. The firm has a market cap of $16.10 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 54.38%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.94 earnings per share. Sell-side analysts expect that LPL Financial will post 15.76 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.56%. LPL Financial’s payout ratio is 9.06%.

Insiders Place Their Bets

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 shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Trading of LPL Financial

Several institutional investors have recently modified their holdings of LPLA. Norges Bank bought a new stake in LPL Financial in the fourth quarter worth about $200,497,000. Boston Partners raised its holdings in shares of LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares in the last quarter. TD Asset Management Inc boosted its holdings in LPL Financial by 286.0% during the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock worth $188,553,000 after buying an additional 613,792 shares in the last quarter. Epoch Investment Partners Inc. grew its position in LPL Financial by 89.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock worth $176,245,000 after buying an additional 364,597 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of LPL Financial by 12,785.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after buying an additional 232,704 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.