LPL Financial Holdings Inc. (LPLA) Given New $65.00 Price Target at Citigroup Inc.
LPL Financial Holdings Inc. (NASDAQ:LPLA) had its target price increased by Citigroup Inc. from $63.00 to $65.00 in a research note released on Friday morning. They currently have a buy rating on the financial services provider’s stock.
Several other equities research analysts have also weighed in on the company. Nomura upped their price objective on LPL Financial Holdings from $64.00 to $65.00 and gave the company a buy rating in a research note on Thursday. Zacks Investment Research lowered LPL Financial Holdings from a hold rating to a sell rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. upgraded LPL Financial Holdings from a hold rating to a buy rating and upped their price objective for the company from $49.00 to $55.00 in a research note on Wednesday, August 16th. J P Morgan Chase & Co upped their price objective on LPL Financial Holdings from $52.00 to $53.00 and gave the company a neutral rating in a research note on Monday, October 30th. Finally, Morgan Stanley upped their price objective on LPL Financial Holdings from $39.00 to $42.00 and gave the company an underweight rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. LPL Financial Holdings presently has an average rating of Hold and an average target price of $53.20.
Shares of LPL Financial Holdings (NASDAQ LPLA) traded down $0.02 on Friday, reaching $50.33. The company had a trading volume of 1,065,200 shares, compared to its average volume of 720,790. LPL Financial Holdings has a 1 year low of $34.01 and a 1 year high of $53.92. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $4,539.27, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.68 and a beta of 1.89.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. equities research analysts expect that LPL Financial Holdings will post 2.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. LPL Financial Holdings’s dividend payout ratio (DPR) is presently 42.55%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. Janus Henderson Group PLC bought a new stake in LPL Financial Holdings during the 2nd quarter worth approximately $399,202,000. BlackRock Inc. grew its position in LPL Financial Holdings by 11,835.9% during the 1st quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock worth $139,907,000 after acquiring an additional 3,483,173 shares during the last quarter. Vanguard Group Inc. grew its position in LPL Financial Holdings by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock worth $372,778,000 after acquiring an additional 827,372 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in LPL Financial Holdings during the 3rd quarter worth approximately $31,835,000. Finally, Samlyn Capital LLC grew its position in LPL Financial Holdings by 55.6% during the 2nd quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock worth $62,860,000 after acquiring an additional 528,780 shares during the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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