LPL Financial’s (LPLA) “Market Outperform” Rating Reaffirmed at JMP Securities

by · The Markets Daily

JMP Securities reiterated their market outperform rating on shares of LPL Financial (NASDAQ:LPLA – Free Report) in a report published on Wednesday, Benzinga reports. They currently have a $310.00 price objective on the financial services provider’s stock.

Several other analysts have also recently commented on LPLA. Bank of America upgraded shares of LPL Financial from a neutral rating to a buy rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. Wells Fargo & Company upgraded shares of LPL Financial from an equal weight rating to an overweight rating and boosted their price target for the company from $235.00 to $285.00 in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $261.00 to $268.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. UBS Group lifted their price objective on LPL Financial from $215.00 to $250.00 and gave the company a neutral rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a buy rating on the stock in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of Hold and an average price target of $278.23.

View Our Latest Analysis on LPL Financial

LPL Financial Trading Up 1.9 %

NASDAQ LPLA opened at $248.09 on Wednesday. The firm’s 50 day moving average price is $219.60 and its two-hundred day moving average price is $248.52. The stock 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 has a twelve month low of $187.19 and a twelve month high of $289.88. 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 (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the firm earned $3.94 earnings per share. LPL Financial’s quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts anticipate that LPL Financial will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

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

Institutional Trading of LPL Financial

Several large investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the 2nd quarter worth $25,000. Key Financial Inc bought a new position in shares of LPL Financial in the second quarter worth about $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the 1st quarter worth about $30,000. Paladin Wealth LLC bought a new stake in LPL Financial during the 3rd quarter valued at approximately $34,000. Finally, Crewe Advisors LLC grew its holdings in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Company Profile

(Get Free Report)

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.

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