LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

LPL Financial (NASDAQ:LPLA) had its price objective increased by equities research analysts at Wells Fargo & Company from $310.00 to $390.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 18.10% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. TD Cowen raised their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Citigroup lifted their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $305.17.

LPL Financial Stock Performance

Shares of LPLA opened at $330.23 on Thursday. LPL Financial has a one year low of $187.19 and a one year high of $334.38. The company has a 50-day simple moving average of $293.80 and a two-hundred day simple moving average of $258.97. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $24.73 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.74 earnings per share. On average, analysts anticipate that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter valued at $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the 2nd quarter valued at about $28,000. Crewe Advisors LLC increased its position in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the third quarter worth approximately $31,000. 95.66% of the stock is currently owned by hedge funds and other 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.