LPL Financial (NASDAQ:LPLA) Lowered to "Neutral" Rating by Citigroup

LPL Financial (NASDAQ:LPLA - Get Free Report) was downgraded by investment analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $400.00 price target on the financial services provider's stock. Citigroup's target price suggests a potential upside of 5.43% from the company's previous close.

Other analysts have also recently issued reports about the company. JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Morgan Stanley upped their target price on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and upped their price objective for the company from $420.00 to $460.00 in a report on Monday. Wells Fargo & Company dropped their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $387.69.

LPL Financial Stock Up 0.6%

Shares of LPL Financial stock traded up $2.31 during trading on Monday, reaching $379.39. The company's stock had a trading volume of 341,529 shares, compared to its average volume of 836,121. 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 $30.34 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 0.94 and a beta of 0.67. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50-day simple moving average of $345.41 and a two-hundred day simple moving average of $342.54.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the business posted $3.83 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that LPL Financial will post 19.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LPLA. Anchor Investment Management LLC increased its stake in LPL Financial by 0.3% in the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after buying an additional 28 shares during the period. Colonial Trust Co SC lifted its stake in LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares in the last quarter. Compass Financial Services Inc lifted its holdings in LPL Financial by 14.5% in the 1st quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 29 shares in the last quarter. Wealth Alliance grew its position in shares of LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after purchasing an additional 30 shares during the period. Finally, United Capital Financial Advisors LLC increased its stake in shares of LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 31 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.