LPL Financial (NASDAQ:LPLA) PT Raised to $268.00 at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $261.00 to $268.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.65% from the company’s current price.

LPLA has been the topic of several other research reports. JMP Securities reissued a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. UBS Group boosted their target price on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group boosted their target price on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock. Finally, TD Cowen boosted their target price on LPL Financial from $271.00 to $279.00 and gave the stock a “hold” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $285.20.

LPL Financial Stock Performance

LPLA opened at $263.66 on Thursday. The business’s 50 day moving average is $276.39 and its 200-day moving average is $261.82. The stock has a market cap of $19.70 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial has a twelve month low of $200.18 and a twelve month high of $289.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results 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. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. On average, analysts predict that LPL Financial will post 15.77 earnings per share for the current year.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Mawer Investment Management Ltd. purchased a new position in shares of LPL Financial during the 4th quarter valued at $3,375,000. Hudson Bay Capital Management LP grew its holdings in shares of LPL Financial by 42.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock valued at $11,882,000 after acquiring an additional 15,000 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of LPL Financial by 15.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after acquiring an additional 4,686 shares in the last quarter. NewEdge Wealth LLC grew its holdings in shares of LPL Financial by 228.6% during the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock valued at $12,707,000 after acquiring an additional 38,839 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of LPL Financial by 21.5% during the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after acquiring an additional 181,594 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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.