LPL Financial (NASDAQ:LPLA) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of LPL Financial (NASDAQ:LPLA) in a research report released on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $362.00 target price on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Truist Financial started coverage on LPL Financial in a report on Tuesday, September 1st. They set a “hold” rating and a $389.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Morgan Stanley upped their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. BMO Capital Markets increased their target price on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $403.79.

LPL Financial Stock Performance

LPLA opened at $316.44 on Friday. LPL Financial has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The firm has a market capitalization of $24.92 billion, a PE ratio of 25.23, a P/E/G ratio of 0.53 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The company’s 50-day moving average is $347.04 and its 200 day moving average is $317.94.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the company posted $4.51 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, research analysts predict that LPL Financial will post 24.24 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s payout ratio is 9.57%.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $357.36, for a total value of $110,066.88. Following the transaction, the director directly owned 6,107 shares in the company, valued at $2,182,397.52. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katharine Reeping sold 440 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $347.88, for a total transaction of $153,067.20. Following the transaction, the insider directly owned 1,774 shares of the company’s stock, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,867 shares of company stock worth $2,079,664 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of LPL Financial in the second quarter worth about $1,333,189,000. Jupiter Topco LLC purchased a new position in LPL Financial during the second quarter valued at approximately $1,182,595,000. Janus Henderson Group PLC increased its holdings in LPL Financial by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock worth $1,103,079,000 after acquiring an additional 289,227 shares during the period. Capital World Investors lifted its stake in LPL Financial by 37.9% in the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after purchasing an additional 996,806 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock worth $793,163,000 after purchasing an additional 702,061 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.