LPL Financial (NASDAQ:LPLA) Raised to “Hold” at StockNews.com

LPL Financial (NASDAQ:LPLA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other equities analysts have also recently issued reports on LPLA. The Goldman Sachs Group dropped their price target on LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Trading Down 0.5 %

NASDAQ:LPLA opened at $280.81 on Thursday. The firm has a market cap of $20.99 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. The stock has a fifty day moving average price of $234.24 and a 200 day moving average price of $248.48. LPL Financial has a 12-month low of $187.19 and a 12-month high of $291.67. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $3.74 EPS. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial will post 15.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently made changes to their positions in the business. XML Financial LLC raised its holdings in LPL Financial by 4.1% during the third quarter. XML Financial LLC now owns 2,278 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 89 shares in the last quarter. Bridges Investment Management Inc. increased its holdings in shares of LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after buying an additional 37 shares in the last quarter. Markel Group Inc. increased its holdings in shares of LPL Financial by 8.0% in the third quarter. Markel Group Inc. now owns 520,404 shares of the financial services provider’s stock valued at $121,062,000 after buying an additional 38,613 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of LPL Financial by 0.9% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 62,342 shares of the financial services provider’s stock valued at $14,508,000 after buying an additional 533 shares in the last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of LPL Financial by 13.5% in the third quarter. Portside Wealth Group LLC now owns 933 shares of the financial services provider’s stock valued at $217,000 after buying an additional 111 shares in the last quarter. 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.