LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by BMO Capital Markets

LPL Financial (NASDAQ:LPLA) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on LPLA. The Goldman Sachs Group began coverage on shares of LPL Financial in a report on Friday, September 12th. They set a “buy” rating and a $405.00 price objective on the stock. Rothschild Redb lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. TD Cowen lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Redburn Atlantic raised LPL Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Finally, Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $395.77.

LPL Financial Stock Up 0.6%

NASDAQ LPLA opened at $314.73 on Thursday. The stock’s 50 day simple moving average is $354.17 and its 200 day simple moving average is $353.72. LPL Financial has a one year low of $236.59 and a one year high of $403.58. The firm has a market cap of $25.18 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business’s revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.88 earnings per share. As a group, sell-side analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,080 shares of company stock valued at $1,097,290. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of LPL Financial

Several hedge funds have recently added to or reduced their stakes in the business. Jackson Wealth Management LLC lifted its holdings in LPL Financial by 12.6% during the third quarter. Jackson Wealth Management LLC now owns 6,670 shares of the financial services provider’s stock worth $2,219,000 after acquiring an additional 749 shares in the last quarter. TT International Asset Management LTD increased its holdings in shares of LPL Financial by 55.1% in the third quarter. TT International Asset Management LTD now owns 7,944 shares of the financial services provider’s stock worth $2,643,000 after acquiring an additional 2,822 shares in the last quarter. Praxis Investment Management Inc. raised its position in shares of LPL Financial by 40.3% during the third quarter. Praxis Investment Management Inc. now owns 3,703 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 1,063 shares during the period. Caldwell Trust Co bought a new position in shares of LPL Financial during the 2nd quarter valued at about $3,052,000. Finally, Osaic Holdings Inc. grew its position in shares of LPL Financial by 25.7% in the 2nd quarter. Osaic Holdings Inc. now owns 13,084 shares of the financial services provider’s stock valued at $4,897,000 after purchasing an additional 2,673 shares during the period. 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.