LPL Financial (NASDAQ:LPLA – Get Free Report) had its price objective hoisted by equities research analysts at Barclays from $378.00 to $379.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 13.27% from the stock’s previous close.
A number of other research firms have also weighed in on LPLA. Morgan Stanley boosted their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $351.50.
Read Our Latest Report on LPL Financial
LPL Financial Price Performance
Shares of NASDAQ LPLA opened at $334.59 on Monday. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. LPL Financial has a 52 week low of $187.19 and a 52 week high of $344.86. The firm has a 50-day simple moving average of $324.28 and a 200-day simple moving average of $266.02. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 EPS. On average, equities analysts predict that LPL Financial will post 16.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On LPL Financial
Several large investors have recently bought and sold shares of the stock. Argent Capital Management LLC raised its holdings in shares of LPL Financial by 23.8% in the 4th quarter. Argent Capital Management LLC now owns 19,147 shares of the financial services provider’s stock valued at $6,252,000 after purchasing an additional 3,682 shares in the last quarter. Park Avenue Securities LLC raised its stake in LPL Financial by 5.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,849 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 210 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after buying an additional 1,383 shares during the last quarter. Oak Thistle LLC boosted its position in shares of LPL Financial by 122.0% during the 4th quarter. Oak Thistle LLC now owns 1,991 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Quantum Financial Advisors LLC acquired a new position in shares of LPL Financial during the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
LPL Financial Company Profile
(Get Free Report)
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.
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