LPL Financial (NASDAQ:LPLA – Get Rating) had its price target increased by analysts at Citigroup from $225.00 to $270.00 in a research note issued on Thursday, The Fly reports. Citigroup’s price objective points to a potential upside of 26.59% from the company’s previous close.
Other analysts have also recently issued reports about the stock. StockNews.com assumed coverage on shares of LPL Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America initiated coverage on shares of LPL Financial in a research note on Thursday, December 16th. They set a “neutral” rating and a $184.00 price objective for the company. Morgan Stanley raised their target price on shares of LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday. JMP Securities upgraded shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 target price on the stock in a research report on Thursday, April 7th. Finally, UBS Group decreased their target price on shares of LPL Financial from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Tuesday, January 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Buy” and an average target price of $217.25.
NASDAQ LPLA opened at $213.28 on Thursday. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 0.64 and a beta of 1.02. The stock’s 50-day simple moving average is $178.90 and its two-hundred day simple moving average is $170.57. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.68. LPL Financial has a twelve month low of $127.03 and a twelve month high of $214.45.
LPL Financial (NASDAQ:LPLA – Get Rating) last issued its quarterly earnings results on Thursday, February 3rd. The financial services provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.05 billion. LPL Financial had a return on equity of 36.57% and a net margin of 5.96%. During the same period in the previous year, the firm posted $1.53 EPS. On average, equities analysts expect that LPL Financial will post 9.66 earnings per share for the current fiscal year.
In other news, Director Matthew Enyedi sold 1,900 shares of LPL Financial stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $159.25, for a total transaction of $302,575.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dan H. Arnold sold 23,119 shares of LPL Financial stock in a transaction on Monday, February 28th. The stock was sold at an average price of $180.77, for a total transaction of $4,179,221.63. The disclosure for this sale can be found here. Insiders sold 150,890 shares of company stock worth $27,336,818 over the last three months. Corporate insiders own 1.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Oliver Luxxe Assets LLC boosted its holdings in LPL Financial by 7.2% in the third quarter. Oliver Luxxe Assets LLC now owns 15,860 shares of the financial services provider’s stock worth $2,486,000 after purchasing an additional 1,068 shares during the period. Gradient Investments LLC acquired a new position in LPL Financial in the fourth quarter worth $7,619,000. Illinois Municipal Retirement Fund boosted its holdings in LPL Financial by 26.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 12,796 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 2,702 shares during the period. TFO TDC LLC acquired a new position in LPL Financial in the fourth quarter worth $44,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of LPL Financial by 1.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,015,743 shares of the financial services provider’s stock valued at $162,610,000 after acquiring an additional 18,020 shares during the period. Institutional investors and hedge funds own 98.74% of the company’s stock.
About LPL Financial (Get Rating)
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.
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