LPL Financial (NASDAQ:LPLA) PT Raised to $103.00

LPL Financial (NASDAQ:LPLA) had its price objective raised by stock analysts at Morgan Stanley from $102.00 to $103.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 30.35% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research raised LPL Financial from a “sell” rating to a “hold” rating and set a $55.00 price target on the stock in a report on Tuesday, May 12th. Wells Fargo & Co lifted their price objective on LPL Financial from $70.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 10th. TheStreet raised LPL Financial from a “c+” rating to a “b-” rating in a report on Tuesday, May 26th. Citigroup lifted their price objective on LPL Financial from $95.00 to $100.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, Credit Suisse Group lifted their price objective on LPL Financial from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $84.20.

NASDAQ LPLA opened at $79.02 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.69. LPL Financial has a 52-week low of $32.01 and a 52-week high of $99.60. The business’s 50-day moving average price is $77.51 and its 200 day moving average price is $73.48. The firm has a market cap of $6.23 billion, a P/E ratio of 12.56 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.11. LPL Financial had a return on equity of 55.32% and a net margin of 9.06%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. As a group, analysts anticipate that LPL Financial will post 6.06 earnings per share for the current year.

In other LPL Financial news, Director Richard Steinmeier sold 5,418 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $86.02, for a total value of $466,056.36. Following the completion of the transaction, the director now directly owns 57,175 shares in the company, valued at approximately $4,918,193.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $85.70, for a total value of $1,714,000.00. Following the completion of the transaction, the chief executive officer now owns 232,159 shares of the company’s stock, valued at $19,896,026.30. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LPLA. Raymond James Trust N.A. grew its stake in shares of LPL Financial by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 9,800 shares of the financial services provider’s stock valued at $768,000 after buying an additional 169 shares during the period. Virginia Retirement Systems ET AL grew its stake in shares of LPL Financial by 2.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 8,800 shares of the financial services provider’s stock valued at $479,000 after buying an additional 200 shares during the period. CIBC World Markets Inc. grew its stake in shares of LPL Financial by 1.7% during the 1st quarter. CIBC World Markets Inc. now owns 12,030 shares of the financial services provider’s stock valued at $655,000 after buying an additional 200 shares during the period. Mackenzie Financial Corp grew its stake in shares of LPL Financial by 1.8% during the 1st quarter. Mackenzie Financial Corp now owns 11,477 shares of the financial services provider’s stock valued at $625,000 after buying an additional 201 shares during the period. Finally, Private Capital Group LLC grew its stake in shares of LPL Financial by 25.0% during the 1st quarter. Private Capital Group LLC now owns 1,030 shares of the financial services provider’s stock valued at $56,000 after buying an additional 206 shares during the period. Institutional investors own 93.97% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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