Morgan Stanley set a $70.00 price target on LPL Financial (NASDAQ:LPLA) in a research report released on Friday. The brokerage currently has a hold rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Zacks Investment Research raised LPL Financial from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research report on Thursday. Credit Suisse Group reissued a buy rating and issued a $91.00 price objective on shares of LPL Financial in a research report on Monday, February 4th. Citigroup raised their price objective on LPL Financial to $100.00 and gave the company a buy rating in a research report on Friday, February 1st. BidaskClub raised LPL Financial from a hold rating to a buy rating in a research report on Friday, December 21st. Finally, Goldman Sachs Group began coverage on LPL Financial in a research report on Tuesday, November 27th. They issued a conviction-buy rating on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $80.33.

NASDAQ:LPLA opened at $76.73 on Friday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.40 and a current ratio of 1.40. LPL Financial has a 12 month low of $52.03 and a 12 month high of $78.29. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.81 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.37 by $0.12. LPL Financial had a return on equity of 46.29% and a net margin of 8.47%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.36 billion. Equities research analysts anticipate that LPL Financial will post 6.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. LPL Financial’s dividend payout ratio (DPR) is 18.76%.

In related news, CEO Dan H. Arnold sold 36,774 shares of LPL Financial stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $70.00, for a total value of $2,574,180.00. Following the completion of the transaction, the chief executive officer now directly owns 269,761 shares in the company, valued at $18,883,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Gooley sold 43,440 shares of LPL Financial stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $74.83, for a total value of $3,250,615.20. Following the completion of the transaction, the insider now owns 41,868 shares of the company’s stock, valued at $3,132,982.44. The disclosure for this sale can be found here. Insiders sold 144,499 shares of company stock valued at $9,867,875 over the last quarter. Insiders own 2.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. grew its stake in LPL Financial by 5.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 168 shares in the last quarter. CWM LLC grew its stake in LPL Financial by 66.7% in the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 178 shares in the last quarter. Bank of The West grew its stake in LPL Financial by 1.7% in the fourth quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 205 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 8.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,358 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 341 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in LPL Financial by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,392 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 676 shares in the last quarter. Institutional investors and hedge funds own 92.04% of the company’s stock.

About LPL Financial

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 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

See Also: What does the Dow Jones Industrial Average (DJIA) measure?

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.