LPL Financial (NASDAQ:LPLA) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of LPL Financial (NASDAQ:LPLA) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $305.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. TD Cowen upped their price objective on shares of LPL Financial from $269.00 to $271.00 and gave the stock a hold rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a neutral rating in a research report on Tuesday, April 2nd. Morgan Stanley upgraded shares of LPL Financial from an equal weight rating to an overweight rating and boosted their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. Barclays boosted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Finally, Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They issued an underperform rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $276.20.

LPL Financial Stock Performance

LPLA stock opened at $265.49 on Wednesday. The company has a market capitalization of $19.83 billion, a P/E ratio of 19.45, a PEG ratio of 1.33 and a beta of 0.84. The company has a 50-day simple moving average of $264.62 and a 200 day simple moving average of $242.70. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $276.12. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.18. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.21 earnings per share. Sell-side analysts predict that LPL Financial will post 15.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the sale, the chief executive officer now owns 141,810 shares in the company, valued at approximately $37,798,037.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,151 shares of company stock worth $15,911,088. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at approximately $25,000. Smithfield Trust Co grew its stake in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after buying an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at approximately $30,000. Gladius Capital Management LP bought a new stake in shares of LPL Financial in the 4th quarter valued at approximately $30,000. Finally, Riverview Trust Co bought a new stake in shares of LPL Financial in the 1st quarter valued at approximately $30,000. 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.