LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, Barclays Analyst Says

LPL Financial (NASDAQ:LPLA) had its price target boosted by Barclays from $365.00 to $400.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup dropped their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Wells Fargo & Company dropped their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $374.42.

LPL Financial Trading Up 0.5%

NASDAQ LPLA opened at $385.05 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a twelve month low of $187.19 and a twelve month high of $390.23. The firm has a market capitalization of $30.55 billion, a PE ratio of 27.43, a P/E/G ratio of 0.94 and a beta of 0.65. The stock’s 50 day moving average is $323.22 and its 200 day moving average is $331.40.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the company posted $3.83 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s payout ratio is currently 8.30%.

Insider Activity

In related news, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This trade represents a 21.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

A number of hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC increased its position in LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider’s stock valued at $3,166,000 after acquiring an additional 28 shares during the last quarter. Colonial Trust Co SC increased its position in LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 29 shares during the last quarter. Wealth Alliance increased its position in LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock worth $484,000 after buying an additional 30 shares in the last quarter. United Capital Financial Advisors LLC raised its stake in shares of LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider’s stock worth $393,000 after buying an additional 31 shares during the period. Finally, Sanchez Wealth Management Group raised its stake in shares of LPL Financial by 2.1% in the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock worth $551,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

About LPL Financial

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.