Citigroup Forecasts Strong Price Appreciation for LPL Financial (NASDAQ:LPLA) Stock

LPL Financial (NASDAQ:LPLA) had its price target boosted by research analysts at Citigroup from $310.00 to $385.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target suggests a potential upside of 15.55% from the company’s current price.

Several other equities research analysts also recently weighed in on LPLA. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company from $288.00 to $397.00 in a research report on Tuesday. Wells Fargo & Company increased their price objective on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Jefferies Financial Group decreased their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Finally, UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $351.42.

LPL Financial Stock Down 0.1 %

NASDAQ LPLA traded down $0.24 during trading hours on Friday, reaching $333.18. 221,534 shares of the company’s stock traded hands, compared to its average volume of 507,402. The firm has a market cap of $24.95 billion, a PE ratio of 25.05, a PEG ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a 52-week low of $187.19 and a 52-week high of $344.86. The firm has a 50-day simple moving average of $322.22 and a 200 day simple moving average of $265.43.

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

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction 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 transaction, the director now 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 filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in LPL Financial by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider’s stock valued at $1,584,000 after buying an additional 197 shares in the last quarter. Acadian Asset Management LLC increased its holdings in LPL Financial by 7.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 398 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial in the 2nd quarter worth $25,000. Wedbush Securities Inc. purchased a new position in shares of LPL Financial during the second quarter valued at about $216,000. Finally, Choreo LLC bought a new stake in shares of LPL Financial in the second quarter worth about $415,000. Hedge funds and other 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.