LPL Financial Holdings Inc. (NASDAQ:LPLA) had its target price raised by research analysts at Citigroup Inc. from $60.50 to $65.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup Inc.’s price objective points to a potential upside of 31.47% from the stock’s previous close.

LPLA has been the subject of several other reports. SunTrust Banks, Inc. restated a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. J P Morgan Chase & Co lifted their price objective on shares of LPL Financial Holdings from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley lifted their price objective on shares of LPL Financial Holdings from $39.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.50.

Shares of LPL Financial Holdings (LPLA) traded down 0.88% during mid-day trading on Monday, reaching $49.44. 1,568,111 shares of the company’s stock were exchanged. The company has a market capitalization of $4.45 billion, a PE ratio of 21.48 and a beta of 1.87. The company’s 50-day moving average price is $50.84 and its 200-day moving average price is $44.81. LPL Financial Holdings has a one year low of $30.77 and a one year high of $53.92.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial Holdings had a net margin of 5.19% and a return on equity of 26.63%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts expect that LPL Financial Holdings will post $2.30 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. ARP Americas LLC grew its holdings in shares of LPL Financial Holdings by 18.8% during the third quarter. ARP Americas LLC now owns 8,838 shares of the financial services provider’s stock worth $456,000 after buying an additional 1,400 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of LPL Financial Holdings by 6.5% during the third quarter. Canada Pension Plan Investment Board now owns 101,200 shares of the financial services provider’s stock worth $5,219,000 after buying an additional 6,200 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of LPL Financial Holdings during the third quarter worth $402,000. First Quadrant L P CA grew its holdings in shares of LPL Financial Holdings by 90,024.8% during the third quarter. First Quadrant L P CA now owns 137,891 shares of the financial services provider’s stock worth $7,111,000 after buying an additional 137,738 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of LPL Financial Holdings during the third quarter worth $31,835,000. 90.66% 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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