LPL Financial (NASDAQ:LPLA) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of LPL Financial (NASDAQ:LPLA - Free Report) from a hold rating to a buy rating in a report issued on Thursday, Marketbeat reports. They currently have $413.00 target price on the financial services provider's stock, up from their prior target price of $277.00.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Citigroup raised their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on LPL Financial from $310.00 to $390.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. JMP Securities reiterated a "market outperform" rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Finally, Barclays increased their target price on shares of LPL Financial from $311.00 to $378.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $316.50.

LPL Financial Stock Performance

LPL Financial stock traded up $5.63 during midday trading on Thursday, hitting $327.69. 466,103 shares of the company's stock were exchanged, compared to its average volume of 716,104. 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 12-month low of $187.19 and a 12-month high of $334.83. The firm's 50 day simple moving average is $298.95 and its 200 day simple moving average is $259.75. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86.

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

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is 9.02%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial 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 sale, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Hedge funds have recently added to or reduced their stakes in the business. Bridges Investment Management Inc. lifted its holdings in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock worth $276,000 after purchasing an additional 37 shares during the period. Avior Wealth Management LLC lifted its stake in shares of LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock worth $562,000 after acquiring an additional 42 shares during the period. MFA Wealth Advisors LLC boosted its holdings in shares of LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 43 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of LPL Financial by 1.1% during the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider's stock valued at $956,000 after acquiring an additional 44 shares during the period. Finally, Metis Global Partners LLC raised its holdings in LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider's stock worth $220,000 after purchasing an additional 46 shares in the last quarter. 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.