LPL Financial (NASDAQ:LPLA) Given New $413.00 Price Target at Morgan Stanley

LPL Financial (NASDAQ:LPLA) had its target price increased by investment analysts at Morgan Stanley from $379.00 to $413.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.88% from the stock’s current price.

LPLA has been the subject of several other research reports. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. The Goldman Sachs Group upped their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Trading Down 0.5 %

Shares of LPLA opened at $369.14 on Thursday. LPL Financial has a twelve month low of $187.19 and a twelve month high of $375.84. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $27.64 billion, a P/E ratio of 26.29, a PEG ratio of 1.13 and a beta of 0.87. The firm’s 50-day moving average is $338.85 and its two-hundred day moving average is $277.76.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, research analysts predict that LPL Financial will post 19.4 earnings per share for the current fiscal year.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated 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 directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of LPL Financial in the third quarter worth $31,000. Paladin Wealth LLC acquired a new stake in LPL Financial in the 3rd quarter valued at $34,000. Brooklyn Investment Group purchased a new position in LPL Financial in the third quarter valued at about $43,000. Jones Financial Companies Lllp lifted its stake in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of LPL Financial in the fourth quarter worth about $65,000. 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.