BidaskClub upgraded shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a buy rating in a research report released on Monday.
LPLA has been the subject of several other research reports. Zacks Investment Research downgraded shares of LPL Financial from a hold rating to a sell rating in a research note on Wednesday, November 8th. Credit Suisse Group initiated coverage on shares of LPL Financial in a research note on Thursday, November 30th. They set an outperform rating and a $68.00 price target for the company. Citigroup raised their price target on shares of LPL Financial from $60.50 to $65.00 and gave the company a buy rating in a research note on Monday, October 30th. Wells Fargo & Co reaffirmed a market perform rating and set a $60.00 price target (up previously from $52.00) on shares of LPL Financial in a research note on Thursday, January 4th. Finally, Nomura raised their price target on shares of LPL Financial from $64.00 to $65.00 and gave the company a buy rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. LPL Financial currently has an average rating of Buy and a consensus target price of $64.00.
LPL Financial (LPLA) opened at $60.91 on Monday. The company has a market cap of $5,691.00, a P/E ratio of 21.61, a P/E/G ratio of 1.32 and a beta of 1.74. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48. LPL Financial has a 52 week low of $37.38 and a 52 week high of $64.71.
LPL Financial announced that its board has approved a share repurchase program on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
In other LPL Financial news, CEO Dan H. Arnold sold 3,742 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado grew its holdings in LPL Financial by 250.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 9,731 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 6,955 shares during the period. Victory Capital Management Inc. grew its holdings in LPL Financial by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 914,627 shares of the financial services provider’s stock worth $52,262,000 after purchasing an additional 16,487 shares during the period. Three Peaks Capital Management LLC grew its holdings in LPL Financial by 33.9% in the fourth quarter. Three Peaks Capital Management LLC now owns 242,544 shares of the financial services provider’s stock worth $13,859,000 after purchasing an additional 61,448 shares during the period. Eqis Capital Management Inc. acquired a new stake in LPL Financial in the fourth quarter worth $431,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of LPL Financial during the fourth quarter valued at about $5,493,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
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LPL Financial Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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