TD Cowen Raises LPL Financial (NASDAQ:LPLA) Price Target to $271.00

LPL Financial (NASDAQ:LPLA) had its price objective increased by TD Cowen from $269.00 to $271.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on LPLA. JMP Securities raised their price target on shares of LPL Financial from $290.00 to $305.00 and gave the company a market outperform rating in a research note on Tuesday, April 9th. Raymond James initiated coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an underperform rating for the company. Barclays raised their price target on shares of LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a research note on Monday, April 8th. UBS Group raised their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley raised shares of LPL Financial from an equal weight rating to an overweight rating and lifted their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $276.20.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $270.79 on Wednesday. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.83. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $264.90 and a 200 day simple moving average of $243.15. LPL Financial has a one year low of $179.00 and a one year high of $276.12.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.33 by $0.18. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.21 EPS. Research analysts predict that LPL Financial will post 15.63 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, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dan H. Arnold sold 34,807 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock valued at $15,911,088 in the last 90 days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Large investors have recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new position in shares of LPL Financial in the fourth quarter worth $25,000. Smithfield Trust Co boosted its holdings in shares of LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 74 shares during the period. GAMMA Investing LLC bought a new position in shares of LPL Financial in the fourth quarter worth $30,000. Gladius Capital Management LP bought a new position in shares of LPL Financial in the fourth quarter worth $30,000. Finally, Riverview Trust Co bought a new position in shares of LPL Financial in the first quarter worth $30,000. 95.66% of the stock is owned by institutional investors.

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.