LPL Financial (NASDAQ:LPLA) Raised to “Overweight” at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $397.00 price objective on the financial services provider’s stock, up from their previous price objective of $288.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.07% from the company’s current price.

A number of other equities analysts have also recently issued reports on LPLA. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup increased their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group cut their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note 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 research note 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 on the stock in a research report on Monday. One 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $345.17.

LPL Financial Trading Down 0.7 %

NASDAQ LPLA opened at $333.42 on Tuesday. LPL Financial has a one year low of $187.19 and a one year high of $344.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $24.97 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.60 and a beta of 0.87. The stock’s 50-day moving average is $319.81 and its 200-day moving average is $264.48.

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

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The shares were 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 represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On LPL Financial

A number of large investors have recently made changes to their positions in the company. First Hawaiian Bank grew its holdings in LPL Financial by 47.9% in the 4th quarter. First Hawaiian Bank now owns 5,293 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 1,715 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of LPL Financial by 15.2% in the fourth quarter. Fulton Bank N.A. now owns 4,847 shares of the financial services provider’s stock valued at $1,583,000 after acquiring an additional 641 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of LPL Financial by 5.0% in the fourth quarter. Oliver Luxxe Assets LLC now owns 8,794 shares of the financial services provider’s stock valued at $2,871,000 after acquiring an additional 421 shares during the period. Nordea Investment Management AB increased its position in LPL Financial by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 6,416 shares of the financial services provider’s stock worth $2,094,000 after acquiring an additional 285 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in LPL Financial by 129.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 564 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 318 shares during the period. 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.