LPL Financial (NASDAQ:LPLA) Given New $405.00 Price Target at Keefe, Bruyette & Woods

LPL Financial (NASDAQ:LPLA) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $390.00 to $405.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 9.45% from the company’s current price.

A number of other brokerages have also recently commented on LPLA. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Wells Fargo & Company raised their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley boosted their target price on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays increased their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup boosted their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $367.33.

LPL Financial Trading Up 2.3 %

Shares of LPLA stock traded up $8.22 on Friday, reaching $370.02. 600,897 shares of the stock were exchanged, compared to its average volume of 548,903. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a one year low of $187.19 and a one year high of $375.74. The stock has a market cap of $27.71 billion, a PE ratio of 27.82, a P/E/G ratio of 1.11 and a beta of 0.87. The stock has a 50 day moving average price of $334.85 and a 200 day moving average price of $273.11.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. Equities research analysts forecast that LPL Financial will post 16.17 EPS for the current fiscal year.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction 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 trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP grew its position in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the period. Maverick Capital Ltd. lifted its stake in shares of LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock worth $115,635,000 after purchasing an additional 223,931 shares during the period. Finally, Azora Capital LP raised its holdings in LPL Financial by 52.2% in the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after purchasing an additional 220,622 shares during the period. 95.66% of the stock is owned by 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 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.