LPL Financial (NASDAQ:LPLA) Given New $290.00 Price Target at UBS Group

LPL Financial (NASDAQ:LPLA) had its target price upped by UBS Group from $285.00 to $290.00 in a research report released on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

LPLA has been the subject of a number of other research reports. Morgan Stanley raised LPL Financial from an equal weight rating to an overweight rating and lifted their price objective for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. JMP Securities reaffirmed a market outperform rating and issued a $305.00 price objective on shares of LPL Financial in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on LPL Financial from $254.00 to $260.00 and gave the company a neutral rating in a research report on Tuesday, April 2nd. TD Cowen boosted their price target on LPL Financial from $271.00 to $279.00 and gave the company a hold rating in a research report on Monday, July 8th. Finally, Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They set an underperform rating for the company. One research 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.com, the company currently has an average rating of Hold and a consensus target price of $285.20.

LPL Financial Stock Performance

NASDAQ LPLA opened at $263.66 on Tuesday. LPL Financial has a 1-year low of $200.18 and a 1-year high of $289.88. The company has a market capitalization of $19.70 billion, a P/E ratio of 19.91, a PEG ratio of 1.09 and a beta of 0.90. The business has a 50 day moving average price of $276.39 and a 200 day moving average price of $261.82. 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 announced its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. Sell-side analysts expect that LPL Financial will post 15.77 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Activity

In related news, CEO Dan H. Arnold sold 5,677 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC lifted its position in shares of LPL Financial by 2.8% during the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 44 shares during the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of LPL Financial by 0.6% in the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after purchasing an additional 48 shares in the last quarter. CWM LLC lifted its holdings in shares of LPL Financial by 6.0% in the fourth quarter. CWM LLC now owns 985 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 56 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 60 shares in the last quarter. Finally, LVW Advisors LLC lifted its holdings in shares of LPL Financial by 1.9% in the first quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock valued at $857,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.