LPL Financial (NASDAQ:LPLA) Given “Market Outperform” Rating at Citizens Jmp

LPL Financial (NASDAQ:LPLA)‘s stock had its “market outperform” rating reissued by equities research analysts at Citizens Jmp in a research report issued on Monday, Benzinga reports. They currently have a $500.00 price objective on the financial services provider’s stock. Citizens Jmp’s price objective would indicate a potential upside of 53.94% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Barclays increased their price target on LPL Financial from $394.00 to $401.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. TD Cowen increased their price target on LPL Financial from $372.00 to $377.00 and gave the stock a “hold” rating in a research note on Tuesday, September 1st. Keefe, Bruyette & Woods increased their price target on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wolfe Research reaffirmed an “outperform” rating and set a $454.00 target price on shares of LPL Financial in a research note on Wednesday, August 12th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of LPL Financial in a report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $411.31.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded down $7.59 on Monday, hitting $324.80. The company’s stock had a trading volume of 923,036 shares, compared to its average volume of 904,712. LPL Financial has a 12 month low of $260.15 and a 12 month high of $400.16. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. The stock’s 50-day moving average is $346.85 and its two-hundred day moving average is $318.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the business posted $4.51 earnings per share. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, equities research analysts forecast that LPL Financial will post 24.24 EPS for the current year.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This trade represents a 14.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katharine Reeping sold 440 shares of LPL Financial stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the transaction, the insider directly owned 1,774 shares in the company, valued at $617,139.12. This represents a 19.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,867 shares of company stock valued at $2,079,664 in the last three months. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors have recently bought and sold shares of the stock. Egerton Capital UK LLP acquired a new stake in shares of LPL Financial during the 4th quarter valued at about $91,012,000. ICICI Prudential Asset Management Co Ltd acquired a new stake in shares of LPL Financial during the 4th quarter valued at about $2,822,000. OP Asset Management Ltd acquired a new stake in shares of LPL Financial during the 1st quarter valued at about $2,538,000. SCS Capital Management LLC acquired a new stake in shares of LPL Financial during the 2nd quarter valued at about $60,142,000. Finally, Ocean Park Asset Management LLC acquired a new stake in shares of LPL Financial during the 1st quarter valued at about $21,519,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.