LPL Financial (NASDAQ:LPLA) PT Raised to $271.00 at TD Cowen

LPL Financial (NASDAQ:LPLA - Free Report) had its target price raised by TD Cowen from $269.00 to $271.00 in a report released on Wednesday, Benzinga reports. They currently have a hold rating on the financial services provider's stock.

LPLA has been the subject of a number of other reports. Barclays boosted their price target on LPL Financial from $302.00 to $312.00 and gave the stock an overweight rating in a report on Monday, April 8th. UBS Group lifted their price objective on LPL Financial from $260.00 to $267.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $254.00 to $260.00 and gave the company a neutral rating in a research report on Tuesday, April 2nd. Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They issued an underperform rating for the company. Finally, JMP Securities lifted their price objective on LPL Financial from $290.00 to $305.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $276.20.

LPL Financial Price Performance

LPLA stock traded down $3.64 during midday trading on Wednesday, hitting $265.49. 1,303,124 shares of the stock were exchanged, compared to its average volume of 542,001. The stock's 50-day moving average price is $264.62 and its 200-day moving average price is $242.70. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.33 and a beta of 0.84. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $276.12. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. LPL Financial's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.21 earnings per share. Research analysts predict that LPL Financial will post 15.55 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kabir Sethi sold 1,300 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now owns 10,245 shares in the company, valued at $2,730,292.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the sale, the director now owns 10,245 shares in the company, valued at $2,730,292.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Enyedi sold 1,381 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the sale, the director now owns 8,634 shares in the company, valued at approximately $2,218,419.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,151 shares of company stock worth $15,911,088. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of LPL Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new stake in shares of LPL Financial during the 4th quarter worth approximately $25,000. Riverview Trust Co acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $30,000. Smithfield Trust Co raised its position in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider's stock worth $28,000 after purchasing an additional 74 shares during the period. GAMMA Investing LLC acquired a new stake in shares of LPL Financial during the 4th quarter worth approximately $30,000. Finally, Gladius Capital Management LP bought a new position in LPL Financial in the 4th quarter worth approximately $30,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

About LPL Financial

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.