UBS Group Increases LPL Financial (NASDAQ:LPLA) Price Target to $290.00

LPL Financial (NASDAQ:LPLA) had its price objective raised by UBS Group from $285.00 to $290.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Barclays increased their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a research note on Monday, April 8th. TD Cowen increased their price target on shares of LPL Financial from $271.00 to $279.00 and gave the stock a hold rating in a research note on Monday. Raymond James initiated coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an underperform rating on the stock. Jefferies Financial Group raised their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the company a buy rating in a research note on Monday. Finally, JMP Securities restated a market outperform rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $285.20.

LPL Financial Stock Down 2.8 %

Shares of NASDAQ LPLA opened at $265.22 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial has a 12 month low of $200.18 and a 12 month high of $289.88. The firm has a market capitalization of $19.81 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The firm has a fifty day simple moving average of $276.53 and a two-hundred day simple moving average of $261.56.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping the consensus estimate of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.68 billion. Equities analysts expect that LPL Financial will post 15.77 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s payout ratio is presently 9.06%.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

A number of hedge funds have recently added to or reduced their stakes in LPLA. EdgeRock Capital LLC purchased a new stake in LPL Financial in the fourth quarter worth about $25,000. GAMMA Investing LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at about $30,000. Gladius Capital Management LP purchased a new stake in shares of LPL Financial during the fourth quarter valued at about $30,000. Riverview Trust Co purchased a new stake in shares of LPL Financial during the first quarter valued at about $30,000. Finally, American National Bank purchased a new stake in shares of LPL Financial during the fourth quarter valued at about $32,000. 95.66% of the stock is owned by hedge funds and other 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.