LPL Financial (NASDAQ:LPLA) Price Target Raised to $410.00 at TD Cowen

LPL Financial (NASDAQ:LPLA) had its target price upped by equities researchers at TD Cowen from $356.00 to $410.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective indicates a potential upside of 6.97% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Citizens Jmp upped their price target on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday. Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, July 11th. BMO Capital Markets started coverage on shares of LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price objective on the stock. Finally, UBS Group set a $455.00 price objective on shares of LPL Financial in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $429.00.

LPL Financial Trading Up 1.6%

Shares of LPLA traded up $5.97 during mid-day trading on Monday, reaching $383.28. The company’s stock had a trading volume of 621,616 shares, compared to its average volume of 846,412. The stock has a market cap of $30.66 billion, a PE ratio of 35.26, a P/E/G ratio of 0.88 and a beta of 0.63. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial has a 52 week low of $262.83 and a 52 week high of $403.58. The company’s fifty day moving average price is $339.77 and its two-hundred day moving average price is $356.63.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. The business’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.16 EPS. On average, analysts predict that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Greg Gates sold 750 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the sale, the director directly owned 16,870 shares of the company’s stock, valued at approximately $5,304,265.40. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,830 shares of company stock worth $1,333,105 over the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Trading of LPL Financial

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of LPL Financial by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock valued at $2,994,798,000 after acquiring an additional 613,909 shares during the last quarter. Boston Partners lifted its stake in shares of LPL Financial by 4.7% in the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock worth $1,379,598,000 after purchasing an additional 165,201 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of LPL Financial by 32.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,242,353 shares of the financial services provider’s stock worth $1,078,698,000 after purchasing an additional 800,171 shares during the period. Dodge & Cox lifted its stake in shares of LPL Financial by 77.3% in the 2nd quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock worth $1,013,060,000 after purchasing an additional 1,178,249 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LPL Financial by 0.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock worth $877,264,000 after purchasing an additional 20,881 shares during the period. 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.