LPL Financial Holdings Inc. (LPLA) Price Target Raised to $65.00
LPL Financial Holdings Inc. (NASDAQ:LPLA) had its price target hoisted by Nomura from $64.00 to $65.00 in a research note published on Thursday. They currently have a buy rating on the financial services provider’s stock.
A number of other equities analysts have also recently issued reports on LPLA. BidaskClub upgraded LPL Financial Holdings from a hold rating to a buy rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. upgraded LPL Financial Holdings from a hold rating to a buy rating and boosted their price objective for the company from $49.00 to $55.00 in a report on Wednesday, August 16th. J P Morgan Chase & Co restated a neutral rating and set a $51.00 price objective (up previously from $48.00) on shares of LPL Financial Holdings in a report on Friday, August 18th. Zacks Investment Research cut LPL Financial Holdings from a buy rating to a hold rating in a report on Wednesday, September 20th. Finally, Morgan Stanley boosted their price objective on LPL Financial Holdings from $39.00 to $42.00 and gave the company an underweight rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $53.20.
LPL Financial Holdings (NASDAQ LPLA) traded down $0.02 on Thursday, reaching $50.33. The company had a trading volume of 1,065,200 shares, compared to its average volume of 1,014,284. LPL Financial Holdings has a one year low of $34.01 and a one year high of $53.92. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. The stock has a market cap of $4,539.26, a PE ratio of 20.21, a P/E/G ratio of 1.68 and a beta of 1.89.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $0.58 EPS. LPL Financial Holdings’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts anticipate that LPL Financial Holdings will post 2.31 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, November 8th. LPL Financial Holdings’s dividend payout ratio is 42.55%.
Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of LPL Financial Holdings by 88.5% in the 3rd quarter. Wells Fargo & Company MN now owns 342,284 shares of the financial services provider’s stock worth $17,653,000 after buying an additional 160,738 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial Holdings by 72.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 656,891 shares of the financial services provider’s stock worth $33,882,000 after purchasing an additional 275,138 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of LPL Financial Holdings during the 3rd quarter worth $227,000. Legal & General Group Plc lifted its stake in shares of LPL Financial Holdings by 5.9% during the 3rd quarter. Legal & General Group Plc now owns 79,418 shares of the financial services provider’s stock worth $4,098,000 after purchasing an additional 4,407 shares during the last quarter. Finally, Sawgrass Asset Management LLC lifted its stake in shares of LPL Financial Holdings by 290.1% during the 3rd quarter. Sawgrass Asset Management LLC now owns 30,290 shares of the financial services provider’s stock worth $1,562,000 after purchasing an additional 22,525 shares during the last quarter. Institutional investors and hedge funds own 90.18% 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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