LPL Financial (NASDAQ:LPLA) Price Target Raised to $440.00 at JMP Securities

LPL Financial (NASDAQ:LPLA) had its target price lifted by JMP Securities from $420.00 to $440.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ target price suggests a potential upside of 22.08% from the company’s previous close.

Several other analysts have also issued reports on LPLA. UBS Group upped their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Barclays cut their price objective on shares of LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Citigroup cut their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley boosted their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $371.50.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $360.42 on Friday. The company’s fifty day moving average price is $320.64 and its 200-day moving average price is $329.38. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial has a one year low of $187.19 and a one year high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after purchasing an additional 276,166 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of LPL Financial by 71.6% in the 4th quarter. GAMMA Investing LLC now owns 357 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 149 shares in the last quarter. Nordea Investment Management AB lifted its position in LPL Financial by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 6,416 shares of the financial services provider’s stock valued at $2,094,000 after acquiring an additional 285 shares during the period. TT International Asset Management LTD boosted its stake in LPL Financial by 6.9% during the fourth quarter. TT International Asset Management LTD now owns 12,043 shares of the financial services provider’s stock worth $3,932,000 after acquiring an additional 777 shares in the last quarter. Finally, Winthrop Advisory Group LLC increased its stake in shares of LPL Financial by 0.7% during the fourth quarter. Winthrop Advisory Group LLC now owns 20,954 shares of the financial services provider’s stock valued at $6,842,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

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.