LPL Financial (NASDAQ:LPLA) Upgraded at UBS Group

UBS Group upgraded shares of LPL Financial (NASDAQ:LPLA) from a neutral rating to a buy rating in a research note released on Monday, MarketBeat.com reports. UBS Group currently has $390.00 price objective on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Barclays lifted their price target on shares of LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Jefferies Financial Group reduced their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Citigroup increased their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $345.17.

LPL Financial Stock Down 0.7 %

NASDAQ LPLA opened at $333.42 on Monday. The stock has a 50 day moving average price of $319.81 and a 200-day moving average price of $264.48. LPL Financial has a one year low of $187.19 and a one year high of $344.86. The company has a market capitalization of $24.97 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.60 and a beta of 0.87. 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 (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.74 EPS. As a group, equities analysts predict that LPL Financial will post 16.1 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Insider Buying and Selling at LPL Financial

In related 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 completion of the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of LPL Financial by 47.9% during the 2nd quarter. Principal Financial Group Inc. now owns 21,974 shares of the financial services provider’s stock valued at $6,137,000 after acquiring an additional 7,112 shares during the period. Commonwealth Equity Services LLC lifted its holdings in LPL Financial by 3.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 197 shares in the last quarter. Private Advisor Group LLC boosted its position in LPL Financial by 6.9% during the second quarter. Private Advisor Group LLC now owns 26,822 shares of the financial services provider’s stock worth $7,491,000 after acquiring an additional 1,739 shares during the last quarter. Candriam S.C.A. grew its position in shares of LPL Financial by 29.3% in the second quarter. Candriam S.C.A. now owns 8,110 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in LPL Financial by 7.7% during the second quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider’s stock worth $1,548,000 after buying an additional 398 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.