Citigroup Has Lowered Expectations for LPL Financial (NASDAQ:LPLA) Stock Price

LPL Financial (NASDAQ:LPLA) had its target price dropped by equities researchers at Citigroup from $415.00 to $400.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 18.34% from the company’s previous close.

Several other research firms have also recently commented on LPLA. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Barclays raised their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $380.42.

LPL Financial Price Performance

LPLA stock traded up $3.18 during midday trading on Wednesday, reaching $338.00. The stock had a trading volume of 742,080 shares, compared to its average volume of 775,609. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company’s fifty day simple moving average is $351.17 and its 200 day simple moving average is $314.29. The company has a market cap of $25.21 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, sell-side analysts predict that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 in the last three months. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds have recently bought and sold shares of LPLA. MassMutual Private Wealth & Trust FSB grew its position in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock worth $33,000 after buying an additional 39 shares in the last quarter. California State Teachers Retirement System increased its position in shares of LPL Financial by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 113,287 shares of the financial services provider’s stock valued at $36,989,000 after purchasing an additional 3,425 shares during the last quarter. 111 Capital acquired a new stake in shares of LPL Financial in the 4th quarter valued at $358,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of LPL Financial during the 4th quarter worth $7,851,000. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of LPL Financial during the fourth quarter worth $271,000. Institutional investors and hedge funds 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.