LPL Financial Holdings Inc. (NASDAQ:LPLA)‘s stock had its “underweight” rating reaffirmed by Morgan Stanley in a report issued on Monday. They presently have a $38.00 price objective on the financial services provider’s stock, up from their previous price objective of $35.00. Morgan Stanley’s price target indicates a potential downside of 10.69% from the stock’s previous close.

Several other research analysts have also recently issued reports on LPLA. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 4th. Nomura reaffirmed a “hold” rating and set a $46.00 price objective on shares of LPL Financial Holdings in a research report on Sunday, April 9th. Finally, Goldman Sachs Group, Inc. (The) raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and upped their price objective for the stock from $44.00 to $47.00 in a research report on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $43.00.

Shares of LPL Financial Holdings (NASDAQ LPLA) traded up 0.07% during midday trading on Monday, reaching $42.58. The company had a trading volume of 58,653 shares. The company has a market capitalization of $3.85 billion, a P/E ratio of 20.37 and a beta of 1.82. The company’s 50 day moving average price is $40.77 and its 200-day moving average price is $39.50. LPL Financial Holdings has a 52 week low of $22.57 and a 52 week high of $43.79.

LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.30. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. LPL Financial Holdings had a return on equity of 25.04% and a net margin of 4.65%. LPL Financial Holdings’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities research analysts predict that LPL Financial Holdings will post $2.46 earnings per share for the current fiscal year.

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In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the sale, the insider now directly owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of LPLA. Norges Bank acquired a new position in shares of LPL Financial Holdings during the fourth quarter worth about $42,914,000. AQR Capital Management LLC acquired a new position in shares of LPL Financial Holdings during the fourth quarter worth about $1,201,000. Elkfork Partners LLC acquired a new position in shares of LPL Financial Holdings during the first quarter worth about $190,000. Waratah Capital Advisors Ltd. acquired a new position in shares of LPL Financial Holdings during the first quarter worth about $379,000. Finally, State Street Corp increased its position in shares of LPL Financial Holdings by 1.7% in the fourth quarter. State Street Corp now owns 1,184,737 shares of the financial services provider’s stock worth $41,715,000 after buying an additional 20,324 shares during the period. 90.62% of the stock is owned by institutional investors and hedge funds.

About LPL Financial Holdings

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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