Barclays Issues Pessimistic Forecast for LPL Financial (NASDAQ:LPLA) Stock Price

LPL Financial (NASDAQ:LPLA) had its price target cut by analysts at Barclays from $414.00 to $365.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 27.25% from the company’s previous close.

A number of other research analysts also recently weighed in on LPLA. Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Citigroup lowered their price objective on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.33.

LPL Financial Stock Up 1.2 %

Shares of LPLA stock traded up $3.54 during mid-day trading on Monday, hitting $286.85. The company’s stock had a trading volume of 765,509 shares, compared to its average volume of 904,867. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04. The business has a 50-day moving average price of $348.34 and a 200 day moving average price of $316.43.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Research analysts predict that LPL Financial will post 19.35 EPS for the current fiscal year.

Insider Activity

In related news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in LPL Financial by 7.8% in the third quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 923 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in LPL Financial by 1.1% during the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after acquiring an additional 44 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of LPL Financial by 4.0% in the third quarter. Quantinno Capital Management LP now owns 14,394 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 550 shares during the period. Wellington Management Group LLP lifted its holdings in shares of LPL Financial by 32.8% in the 3rd quarter. Wellington Management Group LLP now owns 227,157 shares of the financial services provider’s stock worth $52,844,000 after acquiring an additional 56,070 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of LPL Financial by 4.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 5,649 shares of the financial services provider’s stock worth $1,297,000 after acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 95.66% 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 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.