TD Cowen Increases LPL Financial (NASDAQ:LPLA) Price Target to $279.00

LPL Financial (NASDAQ:LPLA) had its price objective raised by TD Cowen from $271.00 to $279.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on LPLA. JMP Securities reaffirmed a market outperform rating and set a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Raymond James began coverage on LPL Financial in a research note on Thursday, April 4th. They set an underperform rating for the company. Morgan Stanley raised LPL Financial from an equal weight rating to an overweight rating and raised their price objective for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. Finally, Barclays increased their target price on LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have given 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 a consensus target price of $285.20.

LPL Financial Stock Performance

Shares of LPLA stock opened at $265.22 on Monday. 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 price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The business has a 50 day simple moving average of $276.53 and a 200 day simple moving average of $261.56. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. On average, equities research analysts anticipate that LPL Financial will post 15.85 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid 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 dividend payout ratio (DPR) is currently 9.06%.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LPLA. Mawer Investment Management Ltd. acquired a new stake in LPL Financial during the 4th quarter worth $3,375,000. Hudson Bay Capital Management LP grew its holdings in LPL Financial by 42.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock worth $11,882,000 after acquiring an additional 15,000 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of LPL Financial by 15.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after buying an additional 4,686 shares during the period. NewEdge Wealth LLC grew its holdings in shares of LPL Financial by 228.6% in the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock valued at $12,707,000 after buying an additional 38,839 shares during the period. Finally, Boston Partners grew its holdings in shares of LPL Financial by 21.5% in the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after buying an additional 181,594 shares during the period. 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.