LPL Financial (NASDAQ:LPLA) Price Target Raised to $310.00 at Citigroup

LPL Financial (NASDAQ:LPLA) had its price objective upped by analysts at Citigroup from $285.00 to $310.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 9.86% from the stock’s current price.

LPLA has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Barclays upped their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upped their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, UBS Group upped their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Hold” and an average price target of $284.31.

LPL Financial Trading Up 6.9 %

Shares of NASDAQ LPLA traded up $18.16 during trading on Thursday, hitting $282.18. 1,592,298 shares of the company traded hands, compared to its average volume of 737,361. LPL Financial has a 1 year low of $187.19 and a 1 year high of $291.67. The company has a 50-day moving average price of $232.98 and a 200-day moving average price of $248.24. The firm has a market capitalization of $21.10 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.38 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company earned $3.74 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that LPL Financial will post 15.71 EPS for the current year.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of the stock. Poplar Forest Capital LLC acquired a new stake in LPL Financial during the third quarter worth about $7,749,000. Amalgamated Bank raised its stake in LPL Financial by 11.2% during the third quarter. Amalgamated Bank now owns 5,593 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 563 shares during the period. ASB Consultores LLC raised its stake in LPL Financial by 16.8% during the third quarter. ASB Consultores LLC now owns 860 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 124 shares during the period. National Pension Service raised its stake in LPL Financial by 4.0% during the third quarter. National Pension Service now owns 117,724 shares of the financial services provider’s stock worth $27,386,000 after acquiring an additional 4,524 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in LPL Financial by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 7,417 shares of the financial services provider’s stock worth $1,725,000 after acquiring an additional 190 shares during the period. 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.