LPL Financial (NASDAQ:LPLA) Price Target Lowered to $273.00 at Barclays

LPL Financial (NASDAQ:LPLA) had its price target decreased by Barclays from $313.00 to $273.00 in a research report report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the company. Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They issued an underperform rating on the stock. JMP Securities reiterated a market outperform rating and issued a $305.00 price target on shares of LPL Financial in a research report on Wednesday, May 1st. TD Cowen lifted their price objective on shares of LPL Financial from $271.00 to $279.00 and gave the stock a hold rating in a research note on Monday, July 8th. UBS Group upped their target price on shares of LPL Financial from $285.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of LPL Financial from $326.00 to $315.00 and set an outperform rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $282.55.

LPL Financial Trading Down 7.5 %

LPLA opened at $221.24 on Friday. The firm has a 50 day simple moving average of $268.42 and a 200 day simple moving average of $261.65. LPL Financial has a fifty-two week low of $200.18 and a fifty-two week high of $289.88. The company has a market cap of $16.53 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 54.38%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.94 EPS. On average, sell-side analysts anticipate that LPL Financial will post 15.76 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.54%. LPL Financial’s dividend payout ratio is presently 9.06%.

Insider Activity

In related news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Trading of LPL Financial

A number of hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new position in LPL Financial during the first quarter worth $30,000. GAMMA Investing LLC bought a new position in LPL Financial during the fourth quarter worth $30,000. Gladius Capital Management LP acquired a new position in shares of LPL Financial in the fourth quarter valued at $30,000. Finally, American National Bank bought a new position in shares of LPL Financial in the fourth quarter valued at about $32,000. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Company Profile

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.