LPL Financial (NASDAQ:LPLA) Price Target Increased to $271.00 by Analysts at TD Cowen

LPL Financial (NASDAQ:LPLA) had its price objective boosted by TD Cowen from $269.00 to $271.00 in a report released on Wednesday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other brokerages have also issued reports on LPLA. Raymond James assumed coverage on shares of LPL Financial in a report on Thursday, April 4th. They issued an underperform rating on the stock. UBS Group lifted their price objective on LPL Financial from $260.00 to $267.00 and gave the company a neutral rating in a report on Wednesday, February 14th. JMP Securities lifted their price target on shares of LPL Financial from $290.00 to $305.00 and gave the company a market outperform rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a neutral rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley raised shares of LPL Financial from an equal weight rating to an overweight rating and raised their price objective for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $276.20.

LPL Financial Stock Down 1.4 %

LPLA opened at $265.49 on Wednesday. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.30 and a beta of 0.83. LPL Financial has a 1-year low of $179.00 and a 1-year high of $276.12. The business has a 50 day moving average of $264.62 and a 200-day moving average of $242.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the business posted $4.21 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that LPL Financial will post 15.55 earnings per share for the current year.

Insider Activity at LPL Financial

In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now directly owns 10,245 shares in the company, valued at approximately $2,730,292.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock worth $15,911,088 over the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several large investors have recently bought and sold shares of LPLA. Norges Bank acquired a new position in shares of LPL Financial in the 4th quarter valued at approximately $200,497,000. TD Asset Management Inc lifted its holdings in shares of LPL Financial by 286.0% in the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after purchasing an additional 613,792 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of LPL Financial by 1,732.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after buying an additional 537,272 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in LPL Financial by 89.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock valued at $176,245,000 after acquiring an additional 364,597 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of LPL Financial by 358.2% in the third quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock valued at $108,604,000 after purchasing an additional 357,245 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

About LPL Financial

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.