LPL Financial (NASDAQ:LPLA) Stock Rating Reaffirmed by JMP Securities

LPL Financial (NASDAQ:LPLA)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research report issued on Wednesday, Benzinga reports. They presently have a $310.00 price objective on the financial services provider’s stock. JMP Securities’ price objective indicates a potential upside of 27.38% from the stock’s current price.

Several other analysts have also recently commented on LPLA. UBS Group raised their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $235.00 to $285.00 in a research report on Wednesday. Jefferies Financial Group cut their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 30th. Finally, Citigroup cut their target price on LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $278.23.

LPL Financial Stock Down 1.0 %

LPLA stock opened at $243.36 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The firm has a market capitalization of $18.18 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.27 and a beta of 0.88. The company’s 50 day moving average price is $218.60 and its 200 day moving average price is $248.70.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.94 EPS. On average, equities research analysts anticipate that LPL Financial will post 15.88 EPS for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock valued at $11,057,000 after purchasing an additional 11,703 shares during the period. Acadian Asset Management LLC increased its position in LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares during the period. Swedbank AB acquired a new position in LPL Financial during the 1st quarter valued at $3,648,000. Sei Investments Co. boosted its holdings in LPL Financial by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock valued at $29,923,000 after purchasing an additional 21,481 shares during the period. Finally, Raymond James & Associates grew its position in LPL Financial by 5.4% in the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after purchasing an additional 20,123 shares during the last quarter. 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.