LPL Financial (NASDAQ:LPLA) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of LPL Financial (NASDAQ:LPLA) from a sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “LPL Financial Holdings Inc. is engaged in providing an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, general securities, alternative investments, retirement plans, fixed income, and insurance offerings. LPL Financial Holdings Inc., formerly known as LPL Investment Holdings Inc., is based in Boston, Massachusetts. “

Other equities analysts have also issued reports about the stock. Citigroup decreased their price objective on shares of LPL Financial from $100.00 to $96.00 and set a buy rating for the company in a research report on Thursday, September 19th. ValuEngine raised shares of LPL Financial from a strong sell rating to a sell rating in a research report on Friday, October 11th. Credit Suisse Group decreased their price objective on shares of LPL Financial from $110.00 to $98.00 and set an outperform rating for the company in a research report on Tuesday, October 1st. BidaskClub raised shares of LPL Financial from a sell rating to a hold rating in a research report on Thursday, September 12th. Finally, Morgan Stanley decreased their price objective on shares of LPL Financial from $90.00 to $84.00 and set an equal weight rating for the company in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. LPL Financial presently has an average rating of Hold and a consensus target price of $88.16.

Shares of LPL Financial stock opened at $77.78 on Thursday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 14.59, a PEG ratio of 0.73 and a beta of 1.37. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.55. The company has a 50 day moving average price of $78.60 and a 200 day moving average price of $79.26. LPL Financial has a 52 week low of $52.03 and a 52 week high of $89.89.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. LPL Financial’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. As a group, research analysts anticipate that LPL Financial will post 7.03 earnings per share for the current fiscal year.

In other news, CEO Dan H. Arnold sold 48,159 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $80.00, for a total transaction of $3,852,720.00. Following the sale, the chief executive officer now owns 227,784 shares of the company’s stock, valued at approximately $18,222,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Andrew Kalbaugh sold 32,120 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $80.28, for a total transaction of $2,578,593.60. Following the sale, the director now directly owns 24,096 shares in the company, valued at approximately $1,934,426.88. The disclosure for this sale can be found here. Insiders have sold a total of 117,526 shares of company stock valued at $9,234,790 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new stake in LPL Financial in the 2nd quarter valued at $34,000. Advisory Services Network LLC grew its stake in LPL Financial by 131.8% in the 1st quarter. Advisory Services Network LLC now owns 605 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 344 shares during the period. Captrust Financial Advisors grew its stake in LPL Financial by 70,000.0% in the 2nd quarter. Captrust Financial Advisors now owns 701 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 700 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in LPL Financial by 610.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 987 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 848 shares during the period. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in LPL Financial in the 3rd quarter valued at $98,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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