Keefe, Bruyette & Woods Trims LPL Financial (NASDAQ:LPLA) Target Price to $315.00

LPL Financial (NASDAQ:LPLA) had its price objective lowered by stock analysts at Keefe, Bruyette & Woods from $326.00 to $315.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 31.69% from the company’s current price.

Several other brokerages also recently commented on LPLA. Jefferies Financial Group lifted their price target on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research report on Wednesday, May 1st. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. UBS Group lifted their price target on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial currently has an average rating of “Hold” and a consensus target price of $287.91.

LPL Financial Stock Up 5.4 %

Shares of LPLA stock opened at $239.20 on Friday. The stock’s 50 day simple moving average is $269.91 and its 200 day simple moving average is $261.92. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. LPL Financial has a twelve month low of $200.18 and a twelve month high of $289.88. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.90 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business earned $3.94 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts predict that LPL Financial will post 15.76 EPS for the current year.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC acquired a new position in LPL Financial in the fourth quarter worth $25,000. Riverview Trust Co bought a new stake in shares of LPL Financial during the first quarter worth $30,000. GAMMA Investing LLC bought a new stake in shares of LPL Financial during the fourth quarter worth $30,000. Gladius Capital Management LP bought a new stake in shares of LPL Financial during the fourth quarter worth $30,000. Finally, American National Bank bought a new stake in shares of LPL Financial during the fourth quarter worth $32,000. 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.