LPL Financial (NASDAQ:LPLA) PT Lowered to $313.00

LPL Financial (NASDAQ:LPLA) had its target price reduced by stock analysts at Barclays from $319.00 to $313.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 18.02% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research report on Wednesday, May 1st. Jefferies Financial Group boosted their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $285.20.

LPL Financial Trading Down 2.8 %

Shares of LPLA opened at $265.22 on Wednesday. The company’s fifty day moving average is $276.53 and its 200 day moving average is $261.56. LPL Financial has a fifty-two week low of $200.18 and a fifty-two week high of $289.88. The stock has a market capitalization of $19.81 billion, a PE ratio of 20.03, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.68 billion. Sell-side analysts expect that LPL Financial will post 15.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of LPL Financial

Several hedge funds have recently modified their holdings of LPLA. Norges Bank purchased a new stake in shares of LPL Financial during the fourth quarter valued at about $200,497,000. Boston Partners lifted its position in shares of LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the last quarter. TD Asset Management Inc lifted its position in shares of LPL Financial by 286.0% during the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after buying an additional 613,792 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of LPL Financial by 89.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock valued at $176,245,000 after buying an additional 364,597 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of LPL Financial by 12,785.9% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after buying an additional 232,704 shares during the last quarter. 95.66% of the stock is 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.