LPL Financial (NASDAQ:LPLA) Given New $435.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has raised LPL Financial's price target from $425.00 to $435.00, indicating a potential upside of 17.78% from the previous close.
• The company reported earnings of $4.51 EPS for the last quarter, exceeding estimates and marking a revenue increase of 30.8% year-over-year.
• Institutional investors hold 95.66% of the company's stock, with significant increases in holdings from several firms, including Dodge & Cox and Principal Financial Group.

LPL Financial (NASDAQ:LPLA - Get Free Report) had its price objective lifted by equities research analysts at Keefe, Bruyette & Woods from $425.00 to $435.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 17.78% from the company's previous close.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. 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, July 9th. JMP Securities boosted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Finally, Barclays boosted their price target on shares of LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $383.58.

LPL Financial Stock Down 0.2%

LPLA stock traded down $0.57 during mid-day trading on Monday, hitting $369.34. 433,225 shares of the company were exchanged, compared to its average volume of 823,054. LPL Financial has a twelve month low of $187.19 and a twelve month high of $403.58. The firm has a fifty day simple moving average of $378.53 and a 200 day simple moving average of $355.09. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $29.54 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 47.01%. The company's quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.88 EPS. On average, research analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LPLA. Dodge & Cox raised its holdings in LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after acquiring an additional 1,053,351 shares during the period. Principal Financial Group Inc. raised its holdings in LPL Financial by 1,453.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after acquiring an additional 971,814 shares during the period. Jennison Associates LLC raised its holdings in LPL Financial by 786.2% in the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after acquiring an additional 851,115 shares during the period. Alliancebernstein L.P. raised its holdings in LPL Financial by 550.5% in the 1st quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider's stock worth $248,367,000 after acquiring an additional 642,503 shares during the period. Finally, Egerton Capital UK LLP raised its holdings in LPL Financial by 238.1% in the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock worth $285,026,000 after acquiring an additional 613,555 shares during the period. 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.

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