TD Cowen Increases LPL Financial (NASDAQ:LPLA) Price Target to $279.00

LPL Financial (NASDAQ:LPLA) had its price objective lifted by TD Cowen from $271.00 to $279.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 2.12% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Raymond James started coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Barclays lifted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $284.30.

LPL Financial Trading Up 0.3 %

LPL Financial stock opened at $273.22 on Monday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. LPL Financial has a 1 year low of $200.18 and a 1 year high of $289.88. The firm’s 50 day moving average price is $276.47 and its two-hundred day moving average price is $261.45.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.44. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. On average, research analysts predict that LPL Financial will post 15.85 EPS for the current fiscal year.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in LPL Financial in the fourth quarter valued at about $25,000. Riverview Trust Co acquired a new position in LPL Financial in the first quarter valued at about $30,000. GAMMA Investing LLC acquired a new position in LPL Financial in the fourth quarter valued at about $30,000. Gladius Capital Management LP acquired a new position in LPL Financial in the fourth quarter valued at about $30,000. Finally, American National Bank acquired a new position in LPL Financial in the fourth quarter valued at about $32,000. 95.66% of the stock is owned by institutional investors.

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.