LPL Financial (NASDAQ:LPLA) Given New $309.00 Price Target at Morgan Stanley

by · The Cerbat Gem

LPL Financial (NASDAQ:LPLA – Free Report) had its target price increased by Morgan Stanley from $303.00 to $309.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on LPLA. The Goldman Sachs Group reduced their price objective on LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. UBS Group boosted their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Jefferies Financial Group dropped their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 30th. Finally, Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $277.77.

View Our Latest Analysis on LPL Financial

LPL Financial Price Performance

Shares of LPLA opened at $262.22 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.32 and a beta of 0.88. The business’s 50-day moving average is $224.38 and its 200-day moving average is $248.38. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $289.88.

LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.94 EPS. Equities research analysts expect that LPL Financial will post 15.79 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. LPL Financial’s payout ratio is currently 9.06%.

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in LPL Financial by 101.4% during the third quarter. Blue Trust Inc. now owns 977 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 492 shares during the period. Net Worth Advisory Group bought a new stake in shares of LPL Financial in the third quarter valued at approximately $240,000. Foster Victor Wealth Advisors LLC boosted its position in shares of LPL Financial by 32.5% in the third quarter. Foster Victor Wealth Advisors LLC now owns 69,731 shares of the financial services provider’s stock valued at $17,142,000 after acquiring an additional 17,091 shares during the period. Swedbank AB boosted its position in shares of LPL Financial by 19.8% in the third quarter. Swedbank AB now owns 16,429 shares of the financial services provider’s stock valued at $3,822,000 after acquiring an additional 2,720 shares during the period. Finally, CX Institutional bought a new stake in shares of LPL Financial in the third quarter valued at approximately $382,000. Institutional investors own 95.66% of the company’s stock.

About LPL Financial

(Get Free Report)

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.

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