LPL Financial (NASDAQ:LPLA) Price Target Raised to $290.00

LPL Financial (NASDAQ:LPLA) had its price objective upped by investment analysts at UBS Group from $285.00 to $290.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price points to a potential upside of 6.25% from the company’s previous close.

LPLA has been the subject of several other reports. Barclays raised their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen increased their target price on shares of LPL Financial from $271.00 to $279.00 and gave the stock a “hold” rating in a research note on Monday. Jefferies Financial Group increased their target price on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Hold” and an average target price of $284.30.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $272.94 on Tuesday. The firm has a 50-day simple moving average of $276.62 and a 200-day simple moving average of $261.53. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial has a 52 week low of $200.18 and a 52 week high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. On average, equities analysts predict that LPL Financial will post 15.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now directly owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of LPLA. Simplicity Wealth LLC boosted its position in shares of LPL Financial by 1.7% during the 2nd quarter. Simplicity Wealth LLC now owns 6,653 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 109 shares in the last quarter. CGN Advisors LLC boosted its position in shares of LPL Financial by 4.4% in the 2nd quarter. CGN Advisors LLC now owns 7,105 shares of the financial services provider’s stock worth $1,984,000 after buying an additional 301 shares in the last quarter. CWM LLC boosted its position in shares of LPL Financial by 9.8% in the 2nd quarter. CWM LLC now owns 1,205 shares of the financial services provider’s stock worth $337,000 after buying an additional 108 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of LPL Financial by 6.9% in the 2nd quarter. Park Avenue Securities LLC now owns 7,899 shares of the financial services provider’s stock worth $2,206,000 after buying an additional 513 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in LPL Financial by 275.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,886 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 2,852 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.