Jefferies Financial Group Cuts LPL Financial (NASDAQ:LPLA) Price Target to $282.00

LPL Financial (NASDAQ:LPLA) had its price objective decreased by Jefferies Financial Group from $309.00 to $282.00 in a research note published on Friday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Citigroup decreased their price target on shares of LPL Financial from $325.00 to $285.00 and set a buy rating on the stock in a research note on Friday, September 27th. Keefe, Bruyette & Woods cut 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, July 26th. JPMorgan Chase & Co. upped their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a neutral rating in a report on Thursday, July 11th. UBS Group cut their target price on shares of LPL Financial from $290.00 to $215.00 and set a neutral rating for the company in a report on Tuesday, August 6th. Finally, Wells Fargo & Company initiated coverage on shares of LPL Financial in a research note on Thursday, September 12th. They set an equal weight rating and a $235.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $271.69.

LPL Financial Stock Performance

Shares of LPLA opened at $239.17 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The stock has a market cap of $17.87 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.27 and a beta of 0.88. The business’s 50 day moving average price is $217.20 and its 200-day moving average price is $248.91. LPL Financial has a 52 week low of $187.19 and a 52 week high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.94 EPS. Equities research analysts anticipate that LPL Financial will post 15.88 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.50%. LPL Financial’s dividend payout ratio is presently 9.06%.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fulton Bank N.A. lifted its position in LPL Financial by 15.9% in the third quarter. Fulton Bank N.A. now owns 4,206 shares of the financial services provider’s stock valued at $978,000 after buying an additional 576 shares during the last quarter. Eagle Rock Investment Company LLC lifted its holdings in shares of LPL Financial by 22.5% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 18,051 shares of the financial services provider’s stock worth $4,199,000 after acquiring an additional 3,320 shares during the last quarter. Diversified Trust Co purchased a new position in shares of LPL Financial during the 3rd quarter worth approximately $1,445,000. Handelsbanken Fonder AB boosted its position in shares of LPL Financial by 21.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,681 shares of the financial services provider’s stock worth $4,578,000 after purchasing an additional 3,500 shares during the period. Finally, SG Americas Securities LLC increased its holdings in LPL Financial by 15.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,578 shares of the financial services provider’s stock valued at $1,298,000 after purchasing an additional 732 shares during 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.