LPL Financial (NASDAQ:LPLA) Rating Increased to Buy at UBS Group

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

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays lifted their target price on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, December 9th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Wells Fargo & Company lifted their price objective on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $334.42.

LPL Financial Price Performance

LPL Financial stock opened at $336.53 on Monday. LPL Financial has a 12-month low of $187.19 and a 12-month high of $344.86. The firm’s 50-day moving average is $318.41 and its two-hundred day moving average is $264.08. The stock has a market capitalization of $25.20 billion, a P/E ratio of 25.30, 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 current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the firm earned $3.74 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts predict that LPL Financial will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently modified their holdings of the stock. Bridges Investment Management Inc. raised its stake in LPL Financial by 3.2% during the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after buying an additional 37 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in LPL Financial by 3.9% during the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 43 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in LPL Financial by 1.1% in the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 44 shares during the period. Finally, Metis Global Partners LLC increased its stake in LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

About LPL Financial

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.