LPL Financial's (LPLA) Hold Rating Reaffirmed at TD Cowen

LPL Financial (NASDAQ:LPLA - Get Free Report)'s stock had its "hold" rating restated by equities researchers at TD Cowen in a report released on Wednesday,Benzinga reports. They presently have a $403.00 price objective on the financial services provider's stock, down from their prior price objective of $406.00. TD Cowen's price target points to a potential upside of 5.80% from the stock's previous close.

A number of other analysts also recently weighed in on LPLA. Morgan Stanley upped their target price on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. JMP Securities lifted their price target 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. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Barclays boosted their target price on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $362.31.

LPL Financial Stock Performance

LPLA traded down $2.70 during trading on Wednesday, hitting $380.90. The stock had a trading volume of 685,485 shares, compared to its average volume of 851,225. LPL Financial has a one year low of $187.19 and a one year high of $390.23. 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 cap of $30.46 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 1.04 and a beta of 0.64. The company has a 50 day moving average price of $371.40 and a 200-day moving average price of $349.03.

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 analysts' consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. LPL Financial's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $3.83 earnings per share. As a group, research analysts predict that LPL Financial will post 19.35 EPS for the current year.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total transaction of $573,945.00. Following the transaction, the director directly owned 20,620 shares in the company, valued at approximately $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in LPL Financial in the 1st quarter valued at about $26,000. Millstone Evans Group LLC raised its position in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the period. Graney & King LLC acquired a new position in shares of LPL Financial during the fourth quarter worth approximately $30,000. Private Trust Co. NA lifted its holdings in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in LPL Financial by 63.9% in the 1st 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 during the period. 95.66% of the stock is owned by institutional investors.

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.