LPL Financial (NASDAQ:LPLA) Given New $400.00 Price Target at Barclays

LPL Financial (NASDAQ:LPLA) had its price target raised by Barclays from $365.00 to $400.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 6.17% from the company’s current price.

Several other equities analysts have also recently issued reports on LPLA. JMP Securities upped their price objective on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a research report on Friday. Wells Fargo & Company dropped their price objective on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley increased their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $374.42.

LPL Financial Trading Up 4.5%

NASDAQ LPLA traded up $16.33 on Monday, hitting $376.75. The company’s stock had a trading volume of 1,227,201 shares, compared to its average volume of 831,034. The company’s 50-day simple moving average is $320.64 and its 200 day simple moving average is $329.85. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04. The firm has a market cap of $29.89 billion, a P/E ratio of 26.83, a PEG ratio of 0.94 and a beta of 0.65. 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 announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the company earned $3.83 earnings per share. LPL Financial’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts predict that LPL Financial will post 19.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This represents a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LPLA. JPMorgan Chase & Co. increased its position in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. TT International Asset Management LTD raised its stake in LPL Financial by 6.9% in the 4th quarter. TT International Asset Management LTD now owns 12,043 shares of the financial services provider’s stock valued at $3,932,000 after purchasing an additional 777 shares during the last quarter. Winthrop Advisory Group LLC lifted its holdings in LPL Financial by 0.7% in the 4th quarter. Winthrop Advisory Group LLC now owns 20,954 shares of the financial services provider’s stock valued at $6,842,000 after purchasing an additional 151 shares in the last quarter. Wedmont Private Capital boosted its stake in LPL Financial by 3.6% during the 4th quarter. Wedmont Private Capital now owns 1,578 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 55 shares during the last quarter. Finally, Horizon Wealth Management LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth $203,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.