LPL Financial (NASDAQ:LPLA) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of LPL Financial (NASDAQ:LPLAGet Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. JMP Securities reissued a market outperform rating and issued a $290.00 price objective on shares of LPL Financial in a research note on Monday, March 13th. Keefe, Bruyette & Woods boosted their price target on shares of LPL Financial from $258.00 to $277.00 and gave the stock an outperform rating in a research note on Thursday, January 12th. Morgan Stanley increased their price objective on LPL Financial from $239.00 to $244.00 and gave the company an equal weight rating in a research note on Monday, February 6th. UBS Group cut LPL Financial from a buy rating to a neutral rating and lowered their target price for the stock from $305.00 to $230.00 in a research note on Thursday, November 17th. Finally, William Blair reaffirmed an outperform rating on shares of LPL Financial in a research report on Tuesday, January 17th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, LPL Financial presently has an average rating of Moderate Buy and an average price target of $260.88.

LPL Financial Trading Down 3.5 %

LPLA traded down $7.17 during mid-day trading on Thursday, hitting $195.47. 2,529,875 shares of the stock were exchanged, compared to its average volume of 1,116,281. The company has a market cap of $15.38 billion, a PE ratio of 18.76, a PEG ratio of 0.23 and a beta of 0.95. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.25. The firm’s fifty day moving average is $235.14 and its two-hundred day moving average is $232.12. LPL Financial has a 1-year low of $165.47 and a 1-year high of $271.56.

LPL Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be issued a $0.30 dividend. The ex-dividend date is Monday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. This is an increase from LPL Financial’s previous quarterly dividend of $0.25. LPL Financial’s dividend payout ratio is presently 11.52%.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 20,810 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $239.30, for a total value of $4,979,833.00. Following the completion of the transaction, the chief financial officer now directly owns 12,667 shares of the company’s stock, valued at $3,031,213.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other LPL Financial news, Director Michelle Oroschakoff sold 4,809 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $246.18, for a total transaction of $1,183,879.62. Following the transaction, the director now owns 23,852 shares of the company’s stock, valued at $5,871,885.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 20,810 shares of LPL Financial stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $239.30, for a total value of $4,979,833.00. Following the sale, the chief financial officer now owns 12,667 shares in the company, valued at approximately $3,031,213.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,693 shares of company stock valued at $22,341,455. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of LPL Financial by 7.5% during the third quarter. BlackRock Inc. now owns 4,836,280 shares of the financial services provider’s stock worth $1,056,630,000 after acquiring an additional 338,360 shares during the last quarter. Korea Investment CORP grew its position in LPL Financial by 21.2% during the 3rd quarter. Korea Investment CORP now owns 28,124 shares of the financial services provider’s stock worth $6,145,000 after purchasing an additional 4,924 shares during the last quarter. Natixis Advisors L.P. increased its stake in LPL Financial by 61.4% in the second quarter. Natixis Advisors L.P. now owns 39,689 shares of the financial services provider’s stock valued at $7,322,000 after purchasing an additional 15,093 shares during the period. Lincoln National Corp raised its holdings in shares of LPL Financial by 17.4% in the third quarter. Lincoln National Corp now owns 10,943 shares of the financial services provider’s stock valued at $2,391,000 after buying an additional 1,621 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in shares of LPL Financial by 27.5% during the third quarter. Integrated Investment Consultants LLC now owns 2,588 shares of the financial services provider’s stock worth $565,000 after buying an additional 558 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.

About LPL Financial

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

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