LPL Financial (NASDAQ:LPLA) Price Target Raised to $305.00 at The Goldman Sachs Group

LPL Financial (NASDAQ:LPLA) had its price objective lifted by The Goldman Sachs Group from $271.00 to $305.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

LPLA has been the subject of a number of other reports. UBS Group increased their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Jefferies Financial Group decreased their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $273.98 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $20.48 billion, a PE ratio of 20.60, a P/E/G ratio of 1.52 and a beta of 0.85. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The business’s fifty day moving average price is $236.35 and its two-hundred day moving average price is $248.55.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that LPL Financial will post 15.77 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s payout ratio is 9.02%.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the second quarter valued at about $25,000. Key Financial Inc acquired a new position in LPL Financial in the 2nd quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $31,000. Paladin Wealth LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $34,000. Finally, Crewe Advisors LLC grew its holdings in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. 95.66% of the stock is currently 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.