LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, TD Cowen Analyst Says

LPL Financial (NASDAQ:LPLA) had its price target increased by equities researchers at TD Cowen from $271.00 to $277.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential downside of 1.36% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Jefferies Financial Group lowered their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Keefe, Bruyette & Woods lowered their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Barclays lowered their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Trading Down 0.5 %

Shares of NASDAQ LPLA opened at $280.81 on Thursday. The company’s 50 day simple moving average is $234.24 and its 200 day simple moving average is $248.48. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $291.67. The firm has a market capitalization of $20.99 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping 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 net margin of 8.73% and a return on equity of 52.08%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $3.74 earnings per share. On average, analysts predict that LPL Financial will post 15.71 EPS for the current year.

Institutional Trading of LPL Financial

A number of large investors have recently added to or reduced their stakes in the company. XML Financial LLC lifted its stake in LPL Financial by 4.1% in the third quarter. XML Financial LLC now owns 2,278 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 89 shares during the last quarter. Bridges Investment Management Inc. lifted its stake in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 37 shares during the last quarter. Markel Group Inc. lifted its stake in LPL Financial by 8.0% in the third quarter. Markel Group Inc. now owns 520,404 shares of the financial services provider’s stock valued at $121,062,000 after acquiring an additional 38,613 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in LPL Financial by 0.9% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 62,342 shares of the financial services provider’s stock valued at $14,508,000 after acquiring an additional 533 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in LPL Financial by 13.5% in the third quarter. Portside Wealth Group LLC now owns 933 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds 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.