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.

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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.

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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