Barclays Boosts LPL Financial (NASDAQ:LPLA) Price Target to $312.00

LPL Financial (NASDAQ:LPLA) had its target price boosted by stock analysts at Barclays from $302.00 to $312.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 20.83% from the company’s previous close.

LPLA has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and set a $290.00 target price on shares of LPL Financial in a research note on Friday, February 2nd. Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. Morgan Stanley boosted their target price on shares of LPL Financial from $252.00 to $254.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, TD Cowen upped their price objective on LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $268.36.

LPL Financial Stock Performance

LPLA stock opened at $258.21 on Monday. The stock has a market capitalization of $19.29 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. LPL Financial has a 12-month low of $179.00 and a 12-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 stock’s 50 day simple moving average is $260.24 and its 200 day simple moving average is $239.52.

LPL Financial (NASDAQ:LPLA) last announced its 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. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.21 EPS. As a group, research analysts forecast that LPL Financial will post 15.57 earnings per share for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $3,641,462.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $3,641,462.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.54, for a total value of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock valued at $15,911,088 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Reinhart Partners LLC. grew its position in shares of LPL Financial by 1.6% during the first quarter. Reinhart Partners LLC. now owns 75,835 shares of the financial services provider’s stock valued at $20,036,000 after purchasing an additional 1,215 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in shares of LPL Financial by 41.6% during the fourth quarter. Kapitalo Investimentos Ltda now owns 524 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 154 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of LPL Financial during the fourth quarter valued at about $506,000. Family Wealth Partners LLC purchased a new position in shares of LPL Financial during the fourth quarter valued at about $16,050,000. Finally, Vanguard Group Inc. grew its position in LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after acquiring an additional 48,439 shares in the last quarter. Hedge funds and other institutional investors 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.