TD Cowen Increases LPL Financial (NASDAQ:LPLA) Price Target to $277.00

LPL Financial (NASDAQ:LPLA) had its target price hoisted by TD Cowen from $271.00 to $277.00 in a research note released on Thursday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

LPLA has been the subject of several other reports. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 30th. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. UBS Group increased their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Barclays lowered their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Trading Down 0.5 %

LPLA opened at $280.81 on Thursday. The firm has a market capitalization of $20.99 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.52 and a beta of 0.85. The firm’s 50 day moving average is $235.38 and its 200-day moving average is $248.45. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial has a 52-week low of $187.19 and a 52-week high of $291.67.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.74 EPS. Analysts expect that LPL Financial will post 15.77 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial during the second quarter valued at approximately $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter worth about $28,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial during the third quarter valued at approximately $34,000. Crewe Advisors LLC raised its stake in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.