LPL Financial (LPLA) Research Coverage Started at Credit Suisse Group
Credit Suisse Group initiated coverage on shares of LPL Financial (NASDAQ:LPLA) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $68.00 target price on the financial services provider’s stock.
A number of other analysts have also weighed in on the stock. SunTrust Banks reaffirmed a buy rating and issued a $65.00 price target on shares of LPL Financial in a research note on Friday, October 27th. Nomura upped their price target on shares of LPL Financial from $64.00 to $65.00 and gave the stock a buy rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of LPL Financial from a hold rating to a sell rating in a research note on Wednesday, November 8th. J P Morgan Chase & Co upped their price target on shares of LPL Financial from $52.00 to $53.00 and gave the stock a neutral rating in a research note on Monday, October 30th. Finally, Citigroup upped their price target on shares of LPL Financial from $63.00 to $65.00 and gave the stock a buy rating in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $54.55.
LPL Financial (LPLA) traded up $1.10 during trading on Thursday, reaching $52.94. 818,574 shares of the company’s stock were exchanged, compared to its average volume of 770,486. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $4,774.66, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.77 and a beta of 1.88. LPL Financial has a 52-week low of $34.01 and a 52-week high of $53.92.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. LPL Financial’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS. research analysts anticipate that LPL Financial will post 2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.55%.
In other news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $316,000. Prudential Financial Inc. raised its holdings in shares of LPL Financial by 15.1% in the 2nd quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after purchasing an additional 57,830 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LPL Financial by 166.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock worth $1,036,000 after purchasing an additional 15,229 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $4,034,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $1,273,000. Institutional investors and hedge funds own 90.35% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/12/03/lpl-financial-lpla-research-coverage-started-at-credit-suisse-group.html.
About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
Receive News & Ratings for LPL Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.