LPL Financial (NASDAQ:LPLA) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of LPL Financial (NASDAQ:LPLA) in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $96.00 price objective on the financial services provider’s stock. Jefferies Financial Group also issued estimates for LPL Financial’s Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.68 EPS, FY2019 earnings at $7.08 EPS and FY2020 earnings at $7.63 EPS.

A number of other equities research analysts have also commented on LPLA. Credit Suisse Group increased their price objective on shares of LPL Financial from $108.00 to $110.00 and gave the stock an outperform rating in a report on Friday, July 26th. BidaskClub raised shares of LPL Financial from a sell rating to a hold rating in a report on Thursday, September 12th. ValuEngine raised shares of LPL Financial from a sell rating to a hold rating in a report on Tuesday, September 10th. Zacks Investment Research lowered shares of LPL Financial from a hold rating to a sell rating in a report on Saturday, July 27th. Finally, Citigroup decreased their price objective on shares of LPL Financial from $102.00 to $100.00 and set a buy rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. LPL Financial has an average rating of Hold and an average price target of $87.88.

LPLA opened at $84.27 on Tuesday. The firm’s 50-day simple moving average is $76.44 and its 200-day simple moving average is $78.41. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.42 and a current ratio of 1.42. LPL Financial has a twelve month low of $52.03 and a twelve month high of $89.89. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.79 and a beta of 1.37.



LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that LPL Financial will post 7.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, August 12th. LPL Financial’s dividend payout ratio is currently 18.76%.

In other LPL Financial news, Director John Andrew Kalbaugh sold 32,120 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $80.28, for a total transaction of $2,578,593.60. Following the transaction, the director now directly owns 24,096 shares in the company, valued at approximately $1,934,426.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michelle Oroschakoff sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $71.67, for a total transaction of $358,350.00. Following the transaction, the insider now owns 14,297 shares in the company, valued at $1,024,665.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,526 shares of company stock worth $9,234,790. Insiders own 2.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in LPLA. AJO LP lifted its position in LPL Financial by 794.9% during the 1st quarter. AJO LP now owns 1,254,257 shares of the financial services provider’s stock valued at $87,359,000 after purchasing an additional 1,114,099 shares during the period. Nuveen Asset Management LLC lifted its position in LPL Financial by 241.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,186,741 shares of the financial services provider’s stock valued at $96,803,000 after purchasing an additional 838,919 shares during the period. FMR LLC lifted its position in LPL Financial by 46.8% during the 1st quarter. FMR LLC now owns 2,589,022 shares of the financial services provider’s stock valued at $180,326,000 after purchasing an additional 825,829 shares during the period. AQR Capital Management LLC lifted its position in LPL Financial by 271.6% during the 2nd quarter. AQR Capital Management LLC now owns 396,152 shares of the financial services provider’s stock valued at $32,247,000 after purchasing an additional 289,546 shares during the period. Finally, Principal Financial Group Inc. lifted its position in LPL Financial by 99.0% during the 1st quarter. Principal Financial Group Inc. now owns 407,105 shares of the financial services provider’s stock valued at $28,356,000 after purchasing an additional 202,515 shares during the period. Institutional investors own 93.96% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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