LPL Financial (NASDAQ:LPLA) Hits New 12-Month High on Analyst Upgrade

LPL Financial Holdings Inc. (NASDAQ:LPLA) shares reached a new 52-week high during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $379.00 to $413.00. Morgan Stanley currently has an overweight rating on the stock. LPL Financial traded as high as $375.84 and last traded at $372.70, with a volume of 320649 shares trading hands. The stock had previously closed at $371.05.

A number of other equities research analysts also recently weighed in on LPLA. The Goldman Sachs Group lifted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased 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. UBS Group raised their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Barclays lifted their target price on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average price target of $379.17.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Geode Capital Management LLC grew its position in shares of LPL Financial by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after acquiring an additional 36,474 shares during the period. JPMorgan Chase & Co. increased its stake in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Raymond James Financial Inc. acquired a new position in LPL Financial in the 4th quarter worth about $295,982,000. Finally, Southpoint Capital Advisors LP boosted its position in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a fifty day simple moving average of $338.85 and a 200 day simple moving average of $277.76. The company has a market capitalization of $27.81 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.4 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial’s payout ratio is presently 8.55%.

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.