JMP Securities Increases LPL Financial (NASDAQ:LPLA) Price Target to $305.00

LPL Financial (NASDAQ:LPLA) had its price objective hoisted by research analysts at JMP Securities from $290.00 to $305.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price target suggests a potential upside of 16.72% from the stock’s current price.

A number of other research analysts have also issued reports on the company. UBS Group boosted their price objective on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $254.00 to $315.00 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating for the company. Finally, TD Cowen boosted their price target on LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $268.36.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $261.30 on Tuesday. LPL Financial has a twelve month low of $179.00 and a twelve month high of $274.35. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $19.52 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. The business has a 50 day simple moving average of $259.96 and a 200-day simple moving average of $239.40.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned $4.21 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that LPL Financial will post 15.57 earnings per share for the current year.

Insider Activity at LPL Financial

In related news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the sale, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kabir Sethi sold 1,300 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the sale, the director now owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,151 shares of company stock valued at $15,911,088. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently added to or reduced their stakes in LPLA. EdgeRock Capital LLC acquired a new position in LPL Financial in the 4th quarter valued at approximately $25,000. First Manhattan Co. acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $27,000. Smithfield Trust Co raised its holdings in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after buying an additional 74 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $30,000. Finally, Gladius Capital Management LP acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.