LPL Financial (NASDAQ:LPLA) Lowered to Hold Rating by TD Cowen

LPL Financial (NASDAQ:LPLA - Get Free Report) was downgraded by TD Cowen from a "strong-buy" rating to a "hold" rating in a report released on Wednesday, MarketBeat reports. They currently have a $403.00 target price on the financial services provider's stock, down from their prior target price of $406.00. TD Cowen's price objective suggests a potential upside of 5.80% from the company's previous close.

LPLA has been the topic of a number of other reports. Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target on the stock. in a research note on Monday, June 9th. Barclays upped their target price on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Wells Fargo & Company lowered their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. JMP Securities increased their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Finally, Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price of $362.31.

LPL Financial Price Performance

LPLA stock opened at $380.90 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a market capitalization of $30.46 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.05 and a beta of 0.64. The business's 50-day moving average is $372.62 and its two-hundred day moving average is $349.25. LPL Financial has a 1 year low of $187.19 and a 1 year high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.83 earnings per share. Analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total value of $573,945.00. Following the transaction, the director directly owned 20,620 shares in the company, valued at $7,889,830.60. The trade was a 6.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in LPL Financial in the first quarter valued at about $26,000. Millstone Evans Group LLC grew its stake in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 48 shares in the last quarter. Graney & King LLC purchased a new position in LPL Financial in the fourth quarter valued at about $30,000. Private Trust Co. NA grew its stake in LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.