LPL Financial Holdings Inc. (LPLA) Price Target Increased to $65.00 by Analysts at Citigroup Inc.
LPL Financial Holdings Inc. (NASDAQ:LPLA) had its target price lifted by Citigroup Inc. from $60.50 to $65.00 in a research report released on Monday morning. They currently have a buy rating on the financial services provider’s stock.
LPLA has been the subject of a number of other reports. Zacks Investment Research raised shares of LPL Financial Holdings from a hold rating to a buy rating and set a $60.00 price target for the company in a research report on Thursday, October 26th. BidaskClub raised shares of LPL Financial Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $65.00 price target on shares of LPL Financial Holdings in a research report on Friday, October 27th. Morgan Stanley reaffirmed an underweight rating and set a $38.00 price target (up from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. Finally, ValuEngine cut shares of LPL Financial Holdings from a buy rating to a hold rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $52.50.
Shares of LPL Financial Holdings (NASDAQ:LPLA) traded up $0.64 during mid-day trading on Monday, reaching $50.03. The company’s stock had a trading volume of 679,279 shares, compared to its average volume of 868,823. The stock has a market cap of $4.52 billion, a P/E ratio of 20.12 and a beta of 1.89.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. LPL Financial Holdings had a net margin of 5.19% and a return on equity of 26.03%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. analysts predict that LPL Financial Holdings will post 2.31 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be given a $0.25 dividend. 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 2.00%. LPL Financial Holdings’s payout ratio is currently 42.55%.
A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its position in LPL Financial Holdings by 3.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 106,782 shares of the financial services provider’s stock valued at $5,507,000 after buying an additional 3,204 shares during the last quarter. World Asset Management Inc acquired a new stake in shares of LPL Financial Holdings in the 3rd quarter valued at about $239,000. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of LPL Financial Holdings in the 3rd quarter valued at about $364,000. Stevens Capital Management LP acquired a new stake in shares of LPL Financial Holdings in the 3rd quarter valued at about $3,748,000. Finally, Chicago Equity Partners LLC raised its stake in shares of LPL Financial Holdings by 435.7% in the 3rd quarter. Chicago Equity Partners LLC now owns 74,030 shares of the financial services provider’s stock valued at $3,818,000 after purchasing an additional 60,210 shares in the last quarter. 90.66% of the stock is owned by institutional investors.
About LPL Financial Holdings
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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