Morgan Stanley Issues Positive Forecast for LPL Financial (NASDAQ:LPLA) Stock Price

LPL Financial (NASDAQ:LPLA - Get Free Report) had its target price raised by stock analysts at Morgan Stanley from $330.00 to $450.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's target price indicates a potential upside of 17.07% from the stock's current price.

Other analysts have also issued reports about the company. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday. Wells Fargo & Company reduced 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. Barclays lifted their price target on shares of LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Citigroup reduced their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $377.50.

LPL Financial Trading Up 0.0%

LPLA traded up $0.17 during trading on Wednesday, reaching $384.37. 95,265 shares of the company's stock were exchanged, compared to its average volume of 856,077. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $30.74 billion, a PE ratio of 27.39, a P/E/G ratio of 0.94 and a beta of 0.65. The company's fifty day moving average price is $328.88 and its 200-day moving average price is $334.94.

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

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. The trade was a 21.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. The trade was a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently bought and sold shares of LPLA. Focus Partners Wealth raised its position in shares of LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider's stock valued at $1,426,000 after buying an additional 473 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in LPL Financial during the first quarter valued at approximately $84,000. Anchor Investment Management LLC raised its position in LPL Financial by 0.8% during the first quarter. Anchor Investment Management LLC now owns 9,771 shares of the financial services provider's stock valued at $3,196,000 after purchasing an additional 74 shares in the last quarter. SCS Capital Management LLC acquired a new stake in shares of LPL Financial in the 1st quarter valued at $23,727,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of LPL Financial by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 607,561 shares of the financial services provider's stock valued at $198,758,000 after purchasing an additional 25,916 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.

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