LPL Financial Holdings Inc. (NASDAQ:LPLA)‘s stock had its “neutral” rating reiterated by equities research analysts at J P Morgan Chase & Co in a report issued on Friday. They presently have a $51.00 price target on the financial services provider’s stock, up from their prior price target of $48.00. J P Morgan Chase & Co’s price objective would suggest a potential upside of 10.70% from the company’s current price.

A number of other research analysts have also issued reports on LPLA. Instinet upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a research report on Friday, April 28th. Citigroup Inc. upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Nomura upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $51.00 in a research report on Friday, April 28th. Keefe, Bruyette & Woods upgraded shares of LPL Financial Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $44.00 to $48.00 in a research report on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.36.

Shares of LPL Financial Holdings (NASDAQ:LPLA) traded down 0.13% during midday trading on Friday, hitting $46.07. The stock had a trading volume of 977,373 shares. The company’s 50 day moving average price is $44.69 and its 200-day moving average price is $41.35. The firm has a market capitalization of $4.14 billion, a PE ratio of 20.01 and a beta of 1.84. LPL Financial Holdings has a 1-year low of $27.65 and a 1-year high of $48.56.

LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that LPL Financial Holdings will post $2.39 earnings per share for the current year.

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In related news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new stake in LPL Financial Holdings during the second quarter valued at about $399,202,000. Janus Capital Management LLC increased its position in shares of LPL Financial Holdings by 13.1% in the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after buying an additional 1,038,731 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LPL Financial Holdings by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after buying an additional 827,372 shares during the last quarter. BlackRock Inc. increased its position in shares of LPL Financial Holdings by 1.3% in the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock valued at $151,098,000 after buying an additional 46,013 shares during the last quarter. Finally, Samlyn Capital LLC increased its position in shares of LPL Financial Holdings by 55.6% in the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after buying an additional 528,780 shares during the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

LPL Financial Holdings Company Profile

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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