LPL Financial (NASDAQ:LPLA) Price Target Raised to $305.00 at The Goldman Sachs Group

LPL Financial (NASDAQ:LPLA) had its price target upped by The Goldman Sachs Group from $271.00 to $305.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays increased their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group reduced their price target 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. Finally, TD Cowen upped their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Down 0.5 %

LPLA opened at $280.81 on Friday. The firm has a market cap of $20.99 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50 day moving average price of $235.38 and a 200 day moving average price of $248.52. LPL Financial has a twelve month low of $187.19 and a twelve month 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company earned $3.74 earnings per share. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that LPL Financial will post 15.77 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.43%. LPL Financial’s dividend payout ratio is currently 9.02%.

Hedge Funds Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XML Financial LLC raised its stake in LPL Financial by 4.1% during the third quarter. XML Financial LLC now owns 2,278 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 89 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 37 shares during the last quarter. Markel Group Inc. increased its position in shares of LPL Financial by 8.0% during the 3rd quarter. Markel Group Inc. now owns 520,404 shares of the financial services provider’s stock worth $121,062,000 after purchasing an additional 38,613 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in LPL Financial by 0.9% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 62,342 shares of the financial services provider’s stock valued at $14,508,000 after purchasing an additional 533 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its holdings in LPL Financial by 13.5% during the 3rd quarter. Portside Wealth Group LLC now owns 933 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 111 shares during the last quarter. Institutional investors 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.