LPL Financial (NASDAQ:LPLA) PT Lowered to $285.00 at Citigroup

LPL Financial (NASDAQ:LPLA) had its price target trimmed by Citigroup from $325.00 to $285.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the company a buy rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods decreased their price objective on LPL Financial from $326.00 to $315.00 and set an outperform rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on LPL Financial from $261.00 to $268.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Bank of America raised LPL Financial from a neutral rating to a buy rating and set a $268.00 price target on the stock in a research note on Tuesday, July 30th. Finally, StockNews.com raised shares of LPL Financial from a sell rating to a hold rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $275.69.

LPL Financial Trading Up 0.7 %

Shares of LPL Financial stock opened at $230.86 on Friday. LPL Financial has a 1 year low of $187.19 and a 1 year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The business has a 50 day moving average price of $215.72 and a 200 day moving average price of $250.34. The company has a market capitalization of $17.25 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.27 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.94 earnings per share. Sell-side analysts anticipate that LPL Financial will post 15.88 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.52%. LPL Financial’s payout ratio is currently 9.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LPLA. Vanguard Group Inc. grew its holdings in LPL Financial by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after acquiring an additional 48,439 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Boston Partners increased its holdings in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the last quarter. Samlyn Capital LLC raised its stake in LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after buying an additional 275,286 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.