LPL Financial (LPLA) Given New $65.00 Price Target at Citigroup

LPL Financial (NASDAQ:LPLA) had its price objective increased by equities research analysts at Citigroup from $63.00 to $65.00 in a report issued on Friday, November 10th. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 25.56% from the stock’s current price.

A number of other analysts have also commented on LPLA. SunTrust Banks raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $49.00 to $55.00 in a research note on Wednesday, August 16th. Nomura upped their target price on LPL Financial from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Morgan Stanley upped their target price on LPL Financial from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Wednesday, October 18th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $51.00 price objective (up previously from $48.00) on shares of LPL Financial in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.20.

Shares of LPL Financial (NASDAQ:LPLA) traded up $0.84 during midday trading on Friday, reaching $51.77. 902,300 shares of the company’s stock were exchanged, compared to its average volume of 716,673. LPL Financial has a 52 week low of $34.01 and a 52 week high of $53.92. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. The firm has a market cap of $4,477.04, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.66 and a beta of 1.89.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.58 EPS. LPL Financial’s revenue was up 4.6% on a year-over-year basis. sell-side analysts anticipate that LPL Financial will post 2.31 EPS for the current year.

In other news, CEO Dan H. Arnold sold 3,742 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in shares of LPL Financial in the second quarter valued at approximately $399,202,000. Vanguard Group Inc. lifted its position in LPL Financial by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock worth $372,778,000 after purchasing an additional 827,372 shares during the period. BlackRock Inc. lifted its position in LPL Financial by 1.3% in the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock worth $151,098,000 after purchasing an additional 46,013 shares during the period. Samlyn Capital LLC lifted its position in LPL Financial by 55.6% in the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock worth $62,860,000 after purchasing an additional 528,780 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in LPL Financial by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,456,934 shares of the financial services provider’s stock worth $61,860,000 after purchasing an additional 42,820 shares during the period. 90.35% of the stock is owned by institutional investors.

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LPL Financial Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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