LPL Financial (NASDAQ:LPLA) Price Target Raised to $460.00

LPL Financial (NASDAQ:LPLA - Get Free Report) had its price target increased by analysts at Barclays from $450.00 to $460.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Barclays's price target would indicate a potential upside of 23.67% from the stock's previous close.

LPLA has been the subject of several other reports. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $406.00 to $403.00 in a report on Wednesday. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Morgan Stanley raised their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $369.08.

LPL Financial Stock Performance

NASDAQ LPLA traded down $8.21 during trading hours on Thursday, hitting $371.97. The company had a trading volume of 422,028 shares, compared to its average volume of 852,301. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. LPL Financial has a 1-year low of $187.19 and a 1-year high of $390.23. The company has a market cap of $29.75 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.05 and a beta of 0.64. The business has a 50 day moving average of $373.74 and a 200-day moving average of $349.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The business's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that LPL Financial will post 19.35 EPS for the current year.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total value of $573,945.00. Following the completion of the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of LPL Financial by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock valued at $2,411,956,000 after purchasing an additional 154,200 shares during the last quarter. Boston Partners grew its holdings in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after purchasing an additional 805,637 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after purchasing an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of LPL Financial by 0.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider's stock valued at $877,264,000 after purchasing an additional 20,881 shares during the last quarter. Finally, Dodge & Cox grew its holdings in shares of LPL Financial by 224.1% during the first quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock valued at $498,385,000 after purchasing an additional 1,053,351 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

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.