Jefferies Financial Group Trims LPL Financial (NASDAQ:LPLA) Target Price to $282.00

by · The Cerbat Gem

LPL Financial (NASDAQ:LPLA – Free Report) had its target price reduced by Jefferies Financial Group from $309.00 to $282.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of LPL Financial from a hold rating to a sell rating in a research note on Tuesday, October 1st. JMP Securities increased their target price on shares of LPL Financial from $305.00 to $310.00 and gave the stock a market outperform rating in a report on Friday, July 26th. TD Cowen boosted their price target on shares of LPL Financial from $243.00 to $255.00 and gave the stock a hold rating in a research note on Friday, July 26th. The Goldman Sachs Group reduced their price objective on LPL Financial from $289.00 to $271.00 and set a buy rating on the stock in a research note on Thursday, September 26th. Finally, Bank of America raised LPL Financial from a neutral rating to a buy rating and set a $268.00 target price for the company in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $271.69.

Check Out Our Latest Report on LPL Financial

LPL Financial Price Performance

Shares of LPLA opened at $243.02 on Friday. The firm has a 50-day simple moving average of $216.72 and a two-hundred day simple moving average of $249.16. The stock has a market cap of $18.16 billion, a PE ratio of 18.35, a P/E/G ratio of 1.27 and a beta of 0.88. LPL Financial has a 1-year low of $187.19 and a 1-year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm earned $3.94 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, analysts forecast that LPL Financial will post 15.88 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s payout ratio is 9.06%.

Hedge Funds Weigh In On LPL Financial

Several hedge funds have recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial in the 2nd quarter valued at about $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the 1st quarter worth $30,000. Crewe Advisors LLC raised its position in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

(Get Free Report)

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.

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