LPL Financial (NASDAQ:LPLA) PT Raised to $250.00 at UBS Group

LPL Financial (NASDAQ:LPLA) had its price objective raised by UBS Group from $215.00 to $250.00 in a research note published on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Several other research analysts have also issued reports on LPLA. Citigroup lowered their price target on shares of LPL Financial from $325.00 to $285.00 and set a buy rating for the company in a report on Friday, September 27th. Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a buy rating for the company in a research report on Friday, October 4th. Barclays reduced their price objective on shares of LPL Financial from $313.00 to $273.00 and set an overweight rating for the company in a research report on Friday, July 26th. Bank of America raised shares of LPL Financial from a neutral rating to a buy rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. Finally, TD Cowen raised their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the stock a hold rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $278.23.

LPL Financial Stock Up 1.9 %

LPL Financial stock opened at $248.09 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The firm has a 50 day moving average price of $219.60 and a two-hundred day moving average price of $248.60. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.32 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business earned $3.94 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. Equities analysts predict that LPL Financial will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is currently 9.06%.

Hedge Funds Weigh In On LPL Financial

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after acquiring an additional 11,703 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares during the last quarter. Swedbank AB purchased a new position in LPL Financial during the 1st quarter worth $3,648,000. Sei Investments Co. boosted its holdings in LPL Financial by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock worth $29,923,000 after acquiring an additional 21,481 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after acquiring an additional 20,123 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.