LPL Financial (NASDAQ:LPLA) Price Target Raised to $413.00

LPL Financial (NASDAQ:LPLA) had its price objective increased by equities researchers at Morgan Stanley from $379.00 to $413.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 11.57% from the company’s current price.

Several other brokerages have also recently issued reports on LPLA. Wells Fargo & Company boosted their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays boosted their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Up 1.0 %

Shares of NASDAQ LPLA traded up $3.69 during trading on Thursday, reaching $370.16. The stock had a trading volume of 47,598 shares, compared to its average volume of 566,578. The company has a market cap of $27.72 billion, a P/E ratio of 26.36, a PEG ratio of 1.13 and a beta of 0.87. The business’s 50-day moving average price is $337.94 and its 200-day moving average price is $277.11. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $375.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, equities research analysts predict that LPL Financial will post 19.4 EPS for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LPLA. Daiwa Securities Group Inc. grew its stake in LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in LPL Financial in the third quarter worth about $2,633,000. Principal Financial Group Inc. grew its stake in LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after purchasing an additional 3,444 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after acquiring an additional 1,383 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake 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 valued at $296,635,000 after acquiring an additional 276,166 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.