LPL Financial (NASDAQ:LPLA – Get Free Report) had its target price increased by equities researchers at UBS Group from $390.00 to $420.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 14.48% from the company’s previous close.
A number of other analysts have also weighed in on LPLA. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. JMP Securities restated a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday. The Goldman Sachs Group raised their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $370.50.
Get Our Latest Research Report on LPLA
LPL Financial Stock Performance
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. On average, equities research analysts expect that LPL Financial will post 16.17 earnings per share for the current fiscal year.
Insider Activity at LPL Financial
In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.
Institutional Investors Weigh In On LPL Financial
A number of large investors have recently bought and sold shares of the company. Prossimo Advisors LLC raised its position in LPL Financial by 69.4% during the 4th quarter. Prossimo Advisors LLC now owns 3,785 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 1,550 shares during the last quarter. Valley Wealth Managers Inc. increased its stake in shares of LPL Financial by 16.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 2,319 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 334 shares during the period. Pinnbrook Capital Management LP acquired a new stake in shares of LPL Financial in the fourth quarter worth $4,991,000. Truist Financial Corp raised its holdings in shares of LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock worth $62,740,000 after purchasing an additional 14,106 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in LPL Financial by 20.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,301 shares of the financial services provider’s stock valued at $1,078,000 after purchasing an additional 552 shares during the period. Hedge funds and other 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.
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