LPL Financial (NASDAQ:LPLA) Price Target Raised to $405.00

LPL Financial (NASDAQ:LPLA) had its price objective boosted by Wells Fargo & Company from $390.00 to $405.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.19% from the stock’s previous close.

Several other research analysts have also issued reports on LPLA. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Citigroup lifted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price on the stock in a research note on Monday, January 6th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, JMP Securities restated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $355.67.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded down $0.80 on Friday, reaching $361.00. 220,109 shares of the company’s stock were exchanged, compared to its average volume of 529,362. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.11 and a beta of 0.87. LPL Financial has a twelve month low of $187.19 and a twelve month high of $375.74. 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 has a fifty day moving average of $334.85 and a 200-day moving average of $273.11.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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 return on equity of 49.47% and a net margin of 8.73%. On average, research analysts predict that LPL Financial will post 16.17 EPS for the current fiscal year.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in shares of LPL Financial by 50.6% during 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. purchased a new position in LPL Financial during the 3rd quarter valued at about $2,633,000. Principal Financial Group Inc. grew its stake in shares of 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 acquiring an additional 3,444 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 1,383 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. 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.