JPMorgan Chase & Co. Upgrades LPL Financial (NASDAQ:LPLA) to Overweight

LPL Financial (NASDAQ:LPLA) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $397.00 price objective on the financial services provider’s stock, up from their previous price objective of $288.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 17.97% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Jefferies Financial Group cut their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays lifted their price target on LPL Financial from $311.00 to $378.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their target price on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $345.17.

LPL Financial Stock Performance

Shares of LPLA opened at $336.53 on Tuesday. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.60 and a beta of 0.87. LPL Financial has a 12 month low of $187.19 and a 12 month high of $344.86. The firm has a fifty day simple moving average of $318.41 and a 200 day simple moving average of $264.08. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $3.74 earnings per share. Research analysts forecast that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

A number of institutional investors have recently modified their holdings of LPLA. Bridges Investment Management Inc. raised 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 purchasing an additional 37 shares in the last quarter. Avior Wealth Management LLC increased its holdings in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after buying an additional 42 shares during the period. MFA Wealth Advisors LLC lifted its stake in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 43 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in LPL Financial by 1.1% in the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 46 shares during the last quarter. 95.66% of the stock is currently 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.