Barclays Boosts LPL Financial (NASDAQ:LPLA) Price Target to $379.00

LPL Financial (NASDAQ:LPLA - Free Report) had its price objective upped by Barclays from $378.00 to $379.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider's stock.

Other research analysts have also issued research reports about the stock. Citigroup raised their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company increased their target price on LPL Financial from $310.00 to $390.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $351.50.

LPL Financial Trading Up 0.1 %

NASDAQ LPLA traded up $0.34 during mid-day trading on Monday, reaching $330.75. 166,794 shares of the stock were exchanged, compared to its average volume of 501,502. The stock has a market capitalization of $24.77 billion, a PE ratio of 24.87, a PEG ratio of 1.60 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 has a 1-year low of $187.19 and a 1-year high of $344.86. The business's fifty day simple moving average is $323.22 and its 200 day simple moving average is $265.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm earned $3.74 earnings per share. LPL Financial's revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that LPL Financial will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial's dividend payout ratio (DPR) is 9.02%.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction 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 completion of the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock valued at $772,930,000 after buying an additional 650,675 shares during the period. JPMorgan Chase & Co. lifted its position in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after purchasing an additional 250,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider's stock valued at $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Finally, Maverick Capital Ltd. increased its stake in LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider's stock valued at $115,635,000 after buying an additional 223,931 shares during the period. 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.