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

LPL Financial (NASDAQ:LPLA) had its price target lifted by equities research analysts at JMP Securities from $440.00 to $455.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price objective indicates a potential upside of 44.33% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays dropped their price objective on shares of LPL Financial from $460.00 to $411.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of LPL Financial in a research note on Wednesday. Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective on the stock. in a research note on Friday, September 19th. Finally, Citigroup reissued an “outperform” rating on shares of LPL Financial in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $395.85.

LPL Financial Stock Down 3.7%

LPLA stock opened at $315.24 on Thursday. The company has a fifty day moving average price of $347.31 and a 200 day moving average price of $353.16. LPL Financial has a 12 month low of $242.94 and a 12 month high of $403.58. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $3.88 EPS. LPL Financial’s revenue for the quarter was up 30.8% on a year-over-year basis. Sell-side analysts expect that LPL Financial will post 19.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the sale, the director directly owned 17,620 shares in the company, valued at $5,959,260.20. The trade was a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,830 shares of company stock worth $1,333,105. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC lifted its holdings in LPL Financial by 11.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 61,831 shares of the financial services provider’s stock valued at $19,460,000 after purchasing an additional 6,184 shares in the last quarter. CGN Advisors LLC lifted its holdings in LPL Financial by 1.7% in the 3rd quarter. CGN Advisors LLC now owns 6,958 shares of the financial services provider’s stock valued at $2,315,000 after purchasing an additional 114 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in LPL Financial by 25.3% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 915 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 185 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in LPL Financial by 6.9% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 1,157 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 75 shares in the last quarter. Finally, Shelton Wealth Management LLC lifted its holdings in LPL Financial by 9.6% in the 3rd quarter. Shelton Wealth Management LLC now owns 3,428 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 299 shares in the last quarter. 95.66% of the stock is currently 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.