Keefe, Bruyette & Woods Boosts LPL Financial (NASDAQ:LPLA) Price Target to $405.00

LPL Financial (NASDAQ:LPLA) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $390.00 to $405.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 9.45% from the stock’s current price.

Several other research firms have also issued reports on LPLA. The Goldman Sachs Group lifted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $367.33.

LPL Financial Trading Up 2.3 %

Shares of NASDAQ:LPLA traded up $8.22 on Friday, reaching $370.02. 600,897 shares of the company traded hands, compared to its average volume of 548,903. The stock has a market capitalization of $27.71 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. LPL Financial has a 52 week low of $187.19 and a 52 week high of $375.74. The business’s 50-day simple moving average is $334.85 and its 200 day simple moving average is $273.11. 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 issued its quarterly earnings data 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 49.47% and a net margin of 8.73%. As a group, equities analysts anticipate that LPL Financial will post 16.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of LPL Financial by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after purchasing an additional 36,474 shares during the period. JPMorgan Chase & Co. grew 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 valued at $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP increased its position in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in LPL Financial by 21.6% during the third quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock valued at $165,369,000 after acquiring an additional 126,266 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

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.