JMP Securities Cuts LPL Financial (NASDAQ:LPLA) Price Target to $420.00

LPL Financial (NASDAQ:LPLA) had its price target lowered by JMP Securities from $435.00 to $420.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on LPLA. Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Citigroup decreased their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $369.83.

LPL Financial Stock Performance

LPLA opened at $301.53 on Tuesday. The company has a 50 day simple moving average of $341.04 and a two-hundred day simple moving average of $318.44. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $23.93 billion, a P/E ratio of 21.48, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial has a 1-year low of $187.19 and a 1-year high of $384.04.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.40%. LPL Financial’s payout ratio is currently 8.55%.

Insider Buying and Selling at LPL Financial

In related news, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several hedge funds have recently bought and sold shares of LPLA. Graney & King LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in LPL Financial in the fourth quarter worth about $40,000. Itau Unibanco Holding S.A. bought a new position in LPL Financial during the 4th quarter worth about $42,000. Finally, Jones Financial Companies Lllp increased its position in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the period. 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.