LPL Financial (NASDAQ:LPLA) Lowered to Sell Rating by StockNews.com

LPL Financial (NASDAQ:LPLA - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Wednesday.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Morgan Stanley increased their price target on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. JMP Securities increased their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. UBS Group increased their price target on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Finally, Barclays increased their price target on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $374.42.

LPL Financial Stock Performance

Shares of LPLA stock opened at $384.20 on Wednesday. The business's fifty day simple moving average is $328.88 and its 200-day simple moving average is $334.94. The company has a market cap of $30.73 billion, a PE ratio of 27.36, a PEG ratio of 0.94 and a beta of 0.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 12-month low of $187.19 and a 12-month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly 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. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 earnings per share. Analysts expect that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of LPLA. Truist Financial Corp boosted its stake in shares of LPL Financial by 7.9% in the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after purchasing an additional 14,106 shares during the period. Bank of Montreal Can lifted its stake in LPL Financial by 46.9% in the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after acquiring an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in LPL Financial by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after acquiring an additional 13,936 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in LPL Financial by 35.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 3,693 shares of the financial services provider's stock worth $1,206,000 after acquiring an additional 972 shares during the last quarter. 95.66% of the stock is 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.

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