LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of LPL Financial (NASDAQ:LPLA) from a sell rating to a hold rating in a research report report published on Thursday morning.

A number of other equities analysts have also recently issued reports on the company. TD Cowen upped their target price on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Barclays lifted their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, The Goldman Sachs Group cut their price objective on LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and an average price target of $284.31.

LPL Financial Price Performance

LPLA traded down $1.26 on Thursday, hitting $280.92. 39,037 shares of the stock were exchanged, compared to its average volume of 734,092. The business has a 50-day moving average of $232.98 and a two-hundred day moving average of $248.24. The firm has a market capitalization of $21.00 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a 12 month low of $187.19 and a 12 month high of $291.67.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that LPL Financial will post 15.71 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.43%. LPL Financial’s dividend payout ratio is 9.02%.

Institutional Trading of LPL Financial

Several hedge funds have recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial in the second quarter valued at $25,000. Key Financial Inc bought a new position in LPL Financial in the 2nd quarter valued at about $28,000. Paladin Wealth LLC acquired a new position in LPL Financial during the 3rd quarter valued at about $34,000. Crewe Advisors LLC boosted its stake in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 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.