LPL Financial (NASDAQ:LPLA) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of LPL Financial (NASDAQ:LPLA) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $435.00 target price on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price on the stock in a research note on Monday, January 6th. Barclays increased their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. upgraded LPL Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $370.50.

LPL Financial Trading Up 1.4 %

Shares of NASDAQ LPLA opened at $366.89 on Friday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $375.74. 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 business’s 50 day moving average is $335.66 and its two-hundred day moving average is $273.82. The stock has a market capitalization of $27.47 billion, a P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. As a group, research analysts expect that LPL Financial will post 16.17 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is 9.02%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Large investors have recently modified their holdings of the business. Prossimo Advisors LLC boosted its stake in LPL Financial by 69.4% in the 4th quarter. Prossimo Advisors LLC now owns 3,785 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 1,550 shares in the last quarter. Valley Wealth Managers Inc. raised its holdings in shares of LPL Financial by 16.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 2,319 shares of the financial services provider’s stock worth $757,000 after buying an additional 334 shares during the last quarter. Pinnbrook Capital Management LP acquired a new stake in shares of LPL Financial during the fourth quarter worth $4,991,000. Truist Financial Corp grew its holdings in shares of LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after buying an additional 14,106 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of LPL Financial by 20.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,301 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 552 shares during the period. Hedge funds and other 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.