LPL Financial (NASDAQ:LPLA) Price Target Raised to $390.00

LPL Financial (NASDAQ:LPLA) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $325.00 to $390.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 20.37% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a research note on Thursday. UBS Group upped their price target on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Barclays boosted their price target on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $322.75.

LPL Financial Stock Performance

LPLA opened at $324.00 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50-day simple moving average is $300.63 and its 200 day simple moving average is $260.22. The firm has a market capitalization of $24.26 billion, a PE ratio of 24.36, a PEG ratio of 1.61 and a beta of 0.86. LPL Financial has a 52-week low of $187.19 and a 52-week high of $334.83.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.74 earnings per share. As a group, sell-side analysts expect that LPL Financial will post 16.1 earnings per share for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Southpoint Capital Advisors LP increased its stake in shares of LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after buying an additional 233,242 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares in the last quarter. Finally, Azora Capital LP lifted its position in shares of LPL Financial by 52.2% in the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after purchasing an additional 220,622 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.