Jefferies Financial Group Lowers LPL Financial (NASDAQ:LPLA) Price Target to $282.00

LPL Financial (NASDAQ:LPLA) had its target price lowered by stock analysts at Jefferies Financial Group from $309.00 to $282.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 16.04% from the company’s previous close.

Several other brokerages have also recently weighed in on LPLA. Barclays dropped their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group cut their price objective on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. JMP Securities boosted their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. TD Cowen increased their price target on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company began coverage on shares of LPL Financial in a research report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $271.69.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $243.02 on Friday. LPL Financial has a twelve month low of $187.19 and a twelve month high of $289.88. The company has a market cap of $18.16 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The business’s 50 day moving average price is $216.72 and its two-hundred day moving average price is $249.29. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. LPL Financial’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.94 EPS. On average, analysts predict that LPL Financial will post 15.88 EPS for the current year.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its stake in shares of LPL Financial by 21.6% during the third quarter. Handelsbanken Fonder AB now owns 19,681 shares of the financial services provider’s stock valued at $4,578,000 after acquiring an additional 3,500 shares during the last quarter. SG Americas Securities LLC raised its position in LPL Financial by 15.1% during the 3rd quarter. SG Americas Securities LLC now owns 5,578 shares of the financial services provider’s stock worth $1,298,000 after purchasing an additional 732 shares during the last quarter. Mattson Financial Services LLC acquired a new position in LPL Financial during the 2nd quarter worth about $450,000. Anchor Investment Management LLC increased its stake in shares of LPL Financial by 8.6% in the second quarter. Anchor Investment Management LLC now owns 8,365 shares of the financial services provider’s stock valued at $2,336,000 after buying an additional 664 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of LPL Financial during the second quarter worth about $3,478,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

About LPL Financial

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.