Analysts Set LPL Financial Holdings Inc. (NASDAQ:LPLA) Target Price at $406.69

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $406.6923.

A number of analysts recently commented on the company. Barclays boosted their target price on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wolfe Research reissued an “outperform” rating and issued a $454.00 price objective on shares of LPL Financial in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, TD Cowen raised their price target on shares of LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research note on Friday, July 31st.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

Large investors have recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new stake in shares of LPL Financial in the 2nd quarter valued at $26,000. Clearstead Advisors LLC increased its position in shares of LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares during the period. Core Wealth Advisors LLC purchased a new stake in LPL Financial in the fourth quarter worth $36,000. Physician Wealth Advisors Inc. increased its stake in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of LPL Financial in the 4th quarter worth about $50,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $354.02 on Friday. The company has a market cap of $27.88 billion, a P/E ratio of 28.23, a PEG ratio of 0.60 and a beta of 0.48. The business has a 50-day moving average price of $325.27 and a two-hundred day moving average price of $315.54. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial has a 1-year low of $260.15 and a 1-year high of $400.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company’s revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.51 earnings per share. As a group, analysts anticipate that LPL Financial will post 24.09 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s payout ratio is 9.57%.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.