Citigroup Inc. upgraded shares of LPL Financial Holdings (NASDAQ:LPLA) from a neutral rating to a buy rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has GBX 45 ($0.69) price target on the stock, up from their previous price target of GBX 40 ($0.61).
Citigroup Inc. has also modified their ratings on a number of other financials stocks in the few days. The firm downgraded shares of Ameriprise Financial Inc. from a buy rating to a neutral rating. Their analysts now have a $97.00 price target on that stock. They noted that the move was a valuation call. Also, Citigroup Inc. reiterated its buy rating on shares of INVESCO Ltd.. They have a $40.00 price target on that stock, up previously from $39.00. Finally, Citigroup Inc. raised its price target on shares of Affiliated Managers Group Inc. from $160.00 to $180.00. They have a neutral rating on that stock.
LPL Financial Holdings (NASDAQ:LPLA) traded up 0.13% on Thursday, hitting $39.60. LPL Financial Holdings has a 52-week low of $23.17 and a 52-week high of $39.80. The stock’s 50-day moving average is currently $37.97. The company has a market cap of $4.251 billion and a price-to-earnings ratio of 25.10.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Tuesday, August 13th. This is a boost from LPL Financial Holdings’s previous quarterly dividend of $0.14.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna raised their price target on shares of LPL Financial Holdings from $28.00 to $30.00 in a research note to investors on Monday, July 15th. They now have a negative rating on the stock. Separately, analysts at TheStreet upgraded shares of LPL Financial Holdings from a hold rating to a buy rating in a research note to investors on Friday, July 12th. Finally, analysts at Keefe, Bruyette & Woods reiterated a hold rating on shares of LPL Financial Holdings in a research note to investors on Tuesday, July 9th. They now have a $38.00 price target on the stock, up previously from $36.00.
Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $35.98.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
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