LPL Financial (NASDAQ:LPLA) Coverage Initiated by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage on LPL Financial (NASDAQ:LPLA) with an "outperform" rating and a price target of $365.00, suggesting a potential upside of 16.65% from the previous close.
• The stock has received multiple ratings, with eleven analysts rating it as a Buy, three as Hold, and one as a Sell, indicating a consensus rating of "Moderate Buy" with an average price target of $387.64.
• LPL Financial recently reported quarterly earnings of $4.51 EPS, exceeding expectations, with revenue growth of 30.8% year-over-year, totaling $3.84 billion for the quarter.

BMO Capital Markets started coverage on shares of LPL Financial (NASDAQ:LPLA - Get Free Report) in a report released on Friday,Benzinga reports. The brokerage set an "outperform" rating and a $365.00 price target on the financial services provider's stock. BMO Capital Markets' price objective would suggest a potential upside of 16.65% from the company's previous close.

Several other brokerages also recently commented on LPLA. The Goldman Sachs Group initiated coverage on LPL Financial in a report on Friday, September 12th. They set a "buy" rating and a $405.00 price target on the stock. Wells Fargo & Company increased their price target on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays lowered their price target on LPL Financial from $463.00 to $460.00 and set an "overweight" rating on the stock in a report on Tuesday, September 2nd. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Finally, Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a research note on Wednesday, July 9th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $387.64.

LPL Financial Price Performance

Shares of LPLA opened at $312.89 on Friday. The firm has a market cap of $25.03 billion, a PE ratio of 21.40, a PEG ratio of 0.74 and a beta of 0.61. The firm's 50 day moving average price is $355.48 and its 200 day moving average price is $353.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial has a twelve month low of $229.21 and a twelve month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company posted $3.88 earnings per share. The company's revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, research analysts expect that LPL Financial will post 19.35 EPS for the current fiscal year.

Insider Activity

In related news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the transaction, the director directly owned 17,620 shares of the company's stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company's stock, valued at $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,080 shares of company stock worth $1,097,290 over the last ninety days. Insiders own 1.30% of the company's stock.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. Summit Securities Group LLC acquired a new position in shares of LPL Financial during the 1st quarter worth about $26,000. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the 2nd quarter worth about $26,000. Millstone Evans Group LLC grew its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after buying an additional 48 shares during the period. SBI Securities Co. Ltd. grew its position in shares of LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider's stock worth $30,000 after buying an additional 43 shares during the period. Finally, Private Trust Co. NA grew its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after buying an additional 68 shares during the period. 95.66% of the stock is owned by institutional investors.

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.

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