LPL Financial (NASDAQ:LPLA) Price Target Cut to $383.00 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut its price target on LPL Financial from $464 to $383 but kept a "buy" rating, implying about a 29.81% upside from the current share price.
• LPL topped Q4 expectations with EPS $5.23 vs. $4.82 and revenue of $4.93 billion (up 8.4% year-over-year), with strong return on equity (34.19%).
• Analysts overall have a "Moderate Buy" consensus and an average price target of $426.43, while the stock traded near $295, signalling substantial analyst-implied upside.

LPL Financial (NASDAQ:LPLA - Get Free Report) had its price target cut by research analysts at Jefferies Financial Group from $464.00 to $383.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Jefferies Financial Group's target price suggests a potential upside of 29.81% from the company's current price.

A number of other equities analysts have also weighed in on LPLA. UBS Group set a $500.00 price objective on LPL Financial in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a research report on Wednesday, January 28th. TD Cowen reduced their price objective on LPL Financial from $399.00 to $378.00 and set a "hold" rating for the company in a research note on Friday, January 30th. Citigroup reissued a "market outperform" rating on shares of LPL Financial in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $433.00 to $439.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, LPL Financial has an average rating of "Moderate Buy" and an average price target of $426.43.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded up $1.38 during midday trading on Monday, reaching $295.05. The company had a trading volume of 174,934 shares, compared to its average volume of 981,163. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.36. The business's 50-day simple moving average is $323.07 and its 200 day simple moving average is $343.76. LPL Financial has a 1 year low of $262.83 and a 1 year high of $403.58. The stock has a market cap of $23.66 billion, a P/E ratio of 26.80, a P/E/G ratio of 0.78 and a beta of 0.56.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, topping analysts' consensus estimates of $4.82 by $0.41. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The company had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $4.25 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Enyedi sold 2,109 shares of LPL Financial stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the completion of the transaction, the director owned 14,121 shares in the company, valued at approximately $4,520,838.15. This trade represents a 12.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,088 shares of LPL Financial stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total transaction of $336,975.36. Following the completion of the transaction, the director owned 4,400 shares of the company's stock, valued at $1,362,768. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,990 shares of company stock valued at $2,201,837 in the last ninety days. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the second quarter valued at $26,000. SJS Investment Consulting Inc. lifted its holdings in LPL Financial by 912.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider's stock worth $27,000 after buying an additional 73 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of LPL Financial during the 3rd quarter worth about $27,000. Clearstead Advisors LLC increased its holdings in shares of LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 73 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. increased its holdings in shares of LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 66 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 NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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