Analysts Set LPL Financial Holdings Inc. (NASDAQ:LPLA) PT at $286.92

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $290.83.

LPLA has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. TD Cowen boosted their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. UBS Group boosted their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Barclays upped their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

LPL Financial Stock Performance

Shares of LPLA stock opened at $323.27 on Wednesday. The firm has a market capitalization of $24.21 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.86. The firm has a fifty day simple moving average of $278.64 and a two-hundred day simple moving average of $255.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 12 month low of $187.19 and a 12 month high of $330.72.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (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 the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.74 EPS. Analysts forecast that LPL Financial will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in shares of LPL Financial by 1,640.7% in the first quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 886 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of LPL Financial by 71.7% in the first quarter. Kennedy Capital Management LLC now owns 10,279 shares of the financial services provider’s stock worth $2,716,000 after purchasing an additional 4,293 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in shares of LPL Financial in the first quarter worth approximately $217,000. B. Riley Wealth Advisors Inc. increased its position in shares of LPL Financial by 136.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,211 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 1,277 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of LPL Financial by 0.8% in the first quarter. California State Teachers Retirement System now owns 121,566 shares of the financial services provider’s stock worth $32,118,000 after purchasing an additional 958 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.