Morgan Stanley Cuts LPL Financial (NASDAQ:LPLA) Price Target to $239.00

LPL Financial (NASDAQ:LPLAGet Rating) had its price target cut by Morgan Stanley from $241.00 to $239.00 in a research report released on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the financial services provider’s stock.

LPLA has been the subject of a number of other reports. Truist Financial boosted their price objective on LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. Citigroup boosted their price target on LPL Financial from $225.00 to $270.00 and gave the stock a buy rating in a report on Thursday, April 14th. JMP Securities raised LPL Financial from a market perform rating to an outperform rating and set a $242.00 price target on the stock in a report on Thursday, April 7th. Finally, StockNews.com cut LPL Financial from a hold rating to a sell rating in a report on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $235.83.

LPL Financial Trading Up 2.7 %

Shares of NASDAQ:LPLA opened at $225.14 on Wednesday. The stock has a 50 day moving average of $191.61 and a 200 day moving average of $184.85. The company has a market cap of $18.00 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 0.55 and a beta of 0.96. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. LPL Financial has a 12-month low of $137.59 and a 12-month high of $227.13.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is 16.16%.

Insider Transactions at LPL Financial

In other news, Director Michelle Oroschakoff sold 15,724 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $172.23, for a total transaction of $2,708,144.52. Following the sale, the director now directly owns 42,068 shares of the company’s stock, valued at approximately $7,245,371.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dan H. Arnold sold 39,015 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the sale, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle Oroschakoff sold 15,724 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $172.23, for a total value of $2,708,144.52. Following the sale, the director now owns 42,068 shares in the company, valued at approximately $7,245,371.64. The disclosure for this sale can be found here. Insiders have sold 74,247 shares of company stock valued at $14,822,792 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently bought and sold shares of LPLA. Brown Advisory Inc. purchased a new stake in LPL Financial during the 4th quarter valued at $390,000. Bessemer Group Inc. raised its holdings in LPL Financial by 204.8% during the 4th quarter. Bessemer Group Inc. now owns 573 shares of the financial services provider’s stock valued at $92,000 after buying an additional 385 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in LPL Financial by 4.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 44,138 shares of the financial services provider’s stock valued at $7,066,000 after buying an additional 1,981 shares during the period. Yousif Capital Management LLC purchased a new stake in LPL Financial during the 4th quarter valued at $374,000. Finally, CWM LLC purchased a new stake in LPL Financial during the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

LPL Financial Company Profile

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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