LPL Financial (NASDAQ:LPLA) Upgraded to Buy at UBS Group

LPL Financial (NASDAQ:LPLA) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $390.00 price objective on the financial services provider’s stock. UBS Group’s price objective indicates a potential upside of 17.09% from the stock’s current price.

LPLA has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays lifted their price objective on LPL Financial from $311.00 to $378.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $334.42.

LPL Financial Trading Up 1.6 %

Shares of LPLA stock opened at $333.09 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $24.94 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86. The business has a 50-day moving average price of $316.97 and a two-hundred day moving average price of $263.88. LPL Financial has a 12-month low of $187.19 and a 12-month high of $336.40.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 earnings per share. Equities analysts anticipate that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in LPL Financial by 47.9% in the second quarter. Principal Financial Group Inc. now owns 21,974 shares of the financial services provider’s stock worth $6,137,000 after buying an additional 7,112 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in LPL Financial by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 197 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of LPL Financial by 6.9% in the 2nd quarter. Private Advisor Group LLC now owns 26,822 shares of the financial services provider’s stock worth $7,491,000 after purchasing an additional 1,739 shares in the last quarter. Candriam S.C.A. raised its stake in shares of LPL Financial by 29.3% in the second quarter. Candriam S.C.A. now owns 8,110 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 1,837 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of LPL Financial by 7.7% during the second quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 398 shares in 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.