LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

LPL Financial (NASDAQ:LPLA - Free Report) had its price target boosted by JPMorgan Chase & Co. from $397.00 to $405.00 in a research report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider's stock.

A number of other research firms have also issued reports on LPLA. Jefferies Financial Group cut their price target on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a report on Friday, October 4th. The Goldman Sachs Group increased their target price on LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. JMP Securities reiterated a "market outperform" rating and issued a $435.00 target price on shares of LPL Financial in a report on Friday. Finally, Wells Fargo & Company raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $370.50.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $5.09 during trading on Friday, hitting $366.89. The company had a trading volume of 1,372,122 shares, compared to its average volume of 463,327. LPL Financial has a 52 week low of $187.19 and a 52 week high of $375.74. The business's 50-day moving average is $335.66 and its 200 day moving average is $273.82. The company has a market cap of $27.47 billion, a P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. Equities research analysts predict that LPL Financial will post 16.17 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio is presently 9.02%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of LPL Financial

Large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its holdings in LPL Financial by 50.6% during the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock valued at $3,685,000 after acquiring an additional 5,320 shares during the period. Rockefeller Capital Management L.P. bought a new stake in LPL Financial during the 3rd quarter valued at approximately $2,633,000. Principal Financial Group Inc. grew its holdings in LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after buying an additional 3,444 shares during the last quarter. Assenagon Asset Management S.A. increased its position in LPL Financial by 4.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock worth $10,190,000 after buying an additional 1,383 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares during the last quarter. 95.66% of the stock is owned by 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.