Keefe, Bruyette & Woods Increases LPL Financial Holdings Price Target to $44.00 (LPLA)
Research analysts at Keefe, Bruyette & Woods hoisted their price target on shares of LPL Financial Holdings (NASDAQ:LPLA) from $41.00 to $44.00 in a report released on Thursday, Analyst Ratings.Net reports. Keefe, Bruyette & Woods’ target price indicates a potential upside of 8.00% from the stock’s previous close.
LPLA has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. cut their price target on shares of LPL Financial Holdings from $49.00 to $47.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at JMP Securities initiated coverage on shares of LPL Financial Holdings in a research note to investors on Wednesday, October 9th. They set a “market perform” rating on the stock. Finally, analysts at UBS AG reiterated a “sell” rating on shares of LPL Financial Holdings in a research note to investors on Thursday, October 3rd. They now have a $33.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.49.
In other LPL Financial Holdings news, Director James S. Putnam sold 77,500 shares of LPL Financial Holdings stock on the open market in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $40.01, for a total value of $3,100,775.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
LPL Financial Holdings (NASDAQ:LPLA) traded up 0.15% on Thursday, hitting $40.74. 591,949 shares of the company’s stock traded hands. LPL Financial Holdings has a 52-week low of $23.17 and a 52-week high of $42.27. The stock has a 50-day moving average of $38.92 and a 200-day moving average of $37.63. The company has a market cap of $4.335 billion and a price-to-earnings ratio of 25.81.
LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Wednesday, October 30th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.04. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts predict that LPL Financial Holdings will post $2.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 26th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.87%.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.