LPL Financial (NASDAQ:LPLA) Price Target Cut to $365.00 by Analysts at Barclays

LPL Financial (NASDAQ:LPLA) had its price target reduced by investment analysts at Barclays from $414.00 to $365.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 27.25% from the company’s current price.

LPLA has been the subject of several other research reports. JMP Securities reissued a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $376.33.

LPL Financial Stock Performance

Shares of LPL Financial stock traded up $3.54 during trading hours on Monday, hitting $286.85. 765,509 shares of the company’s stock traded hands, compared to its average volume of 904,867. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a fifty day simple moving average of $348.34 and a 200-day simple moving average of $316.43.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Equities research analysts anticipate that LPL Financial will post 19.35 EPS for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 over the last three months. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in LPLA. HighTower Advisors LLC boosted its position in LPL Financial by 7.8% during the 3rd quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider’s stock valued at $2,971,000 after acquiring an additional 923 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares during the period. Quantinno Capital Management LP increased its stake in shares of LPL Financial by 4.0% in the 3rd quarter. Quantinno Capital Management LP now owns 14,394 shares of the financial services provider’s stock worth $3,349,000 after acquiring an additional 550 shares in the last quarter. Wellington Management Group LLP boosted its stake in LPL Financial by 32.8% during the third quarter. Wellington Management Group LLP now owns 227,157 shares of the financial services provider’s stock worth $52,844,000 after acquiring an additional 56,070 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in LPL Financial by 4.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 5,649 shares of the financial services provider’s stock worth $1,297,000 after purchasing an additional 247 shares during the period. 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.