LPL Financial (NASDAQ:LPLA) Given New $379.00 Price Target at Barclays

LPL Financial (NASDAQ:LPLAGet Free Report) had its price target raised by equities research analysts at Barclays from $378.00 to $379.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 15.55% from the company’s previous close.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company from $288.00 to $397.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Jefferies Financial Group lowered their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $351.50.

Read Our Latest Stock Analysis on LPL Financial

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $328.00 on Monday. The firm has a market cap of $24.56 billion, a P/E ratio of 24.66, a PEG ratio of 1.60 and a beta of 0.87. LPL Financial has a twelve month low of $187.19 and a twelve month high of $344.86. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $323.22 and a 200 day moving average of $265.73.

LPL Financial (NASDAQ:LPLAGet Free Report) last posted its quarterly 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. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business earned $3.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its holdings in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 5,320 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in LPL Financial in the 3rd quarter worth approximately $2,633,000. Principal Financial Group Inc. increased its stake in LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after acquiring an additional 3,444 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 3,809 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

About LPL Financial

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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.

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