JMP Securities Lowers LPL Financial (NASDAQ:LPLA) Price Target to $420.00

LPL Financial (NASDAQ:LPLA - Free Report) had its price objective trimmed by JMP Securities from $435.00 to $420.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a market outperform rating on the financial services provider's stock.

LPLA has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Barclays cut their target price on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, StockNews.com lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average price target of $369.83.

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LPL Financial Price Performance

LPLA traded up $9.89 during trading on Tuesday, reaching $311.42. 789,293 shares of the stock were exchanged, compared to its average volume of 821,623. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial has a 1 year low of $187.19 and a 1 year high of $384.04. The business's 50 day moving average price is $340.03 and its two-hundred day moving average price is $319.00.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, equities research analysts anticipate that LPL Financial will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Insider Buying and Selling

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. Anchor Investment Management LLC lifted its stake in shares of LPL Financial by 0.3% in the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after acquiring an additional 28 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after buying an additional 29 shares during the last quarter. Wealth Alliance raised its holdings in LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 30 shares in the last quarter. United Capital Financial Advisors LLC boosted its stake in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group increased its position in shares of LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 95.66% 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 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.