LPL Financial (NASDAQ:LPLA) Stock Gets Price Target Reduction from Truist Financial

LPL Financial (NASDAQ:LPLA) had its price objective decreased by Truist Financial from $354.00 to $335.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other research analysts have also weighed in on LPLA. Wolfe Research restated an “outperform” rating and set a $454.00 price objective on shares of LPL Financial in a research note on Wednesday, August 12th. Citigroup reissued a “market outperform” rating on shares of LPL Financial in a report on Monday, October 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $400.00 price objective on shares of LPL Financial in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Thursday, October 22nd. Finally, TD Cowen boosted their price objective on shares of LPL Financial from $377.00 to $380.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.60.

LPL Financial Stock Up 1.5%

Shares of NASDAQ:LPLA opened at $283.74 on Wednesday. LPL Financial has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a market cap of $22.34 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.53 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a 50 day simple moving average of $330.25 and a 200 day simple moving average of $323.02.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.28. LPL Financial had a return on equity of 32.36% and a net margin of 6.83%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned $5.20 earnings per share. LPL Financial’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, research analysts expect that LPL Financial will post 23.50 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s dividend payout ratio is presently 6.88%.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the transaction, the director directly owned 6,107 shares in the company, valued at $2,182,397.52. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the sale, the director directly owned 23,602 shares in the company, valued at $8,387,678.76. This trade represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,867 shares of company stock worth $1,726,944 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of LPL Financial

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in LPL Financial during the second quarter worth about $1,333,189,000. Jupiter Topco LLC acquired a new stake in shares of LPL Financial during the 2nd quarter worth about $1,182,595,000. SurgoCap Partners LP acquired a new stake in shares of LPL Financial during the second quarter worth about $299,487,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in LPL Financial in the second quarter valued at $290,481,000. Finally, Bank of America Corp DE purchased a new position in LPL Financial in the 2nd quarter valued at $229,756,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Trending Headlines about LPL Financial

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: LPL added Anchor Financial Partners to its broker-dealer and RIA platforms. The team reportedly serves approximately $525 million in advisory, brokerage and retirement-plan assets, adding to LPL’s advisor network and asset base. LPL Financial Welcomes Anchor Financial Partners
• Positive Sentiment: A Bell Global Equities Fund investor letter pushed back against concerns that artificial intelligence could disrupt LPL’s advisor-driven business model, supporting the long-term value of its independent wealth-management platform. Bell Global Equities Fund on AI Disruption Concerns
• Neutral Sentiment: UBS lowered its target from $390 to $369 but maintained a Buy rating, implying substantial upside based on the referenced share price. This indicates analysts remain divided rather than uniformly bearish. UBS LPL Financial Ratings
• Negative Sentiment: TD Cowen, Barclays, Wells Fargo, Truist Financial and JPMorgan Chase all issued lower expectations or price targets for LPLA. TD Cowen’s revised target was reported at $356, while the cluster of reductions weakened investor sentiment and contributed to the stock’s decline. TD Cowen Cuts LPL Financial Target
• Negative Sentiment: Recent reported insider activity showed four open-market sales and no purchases over six months, adding a modest additional cautionary signal.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.