LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, Citigroup Analyst Says

LPL Financial (NASDAQ:LPLA) had its price target upped by analysts at Citigroup from $310.00 to $385.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 16.52% from the stock’s current price.

LPLA has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of LPL Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $351.42.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $330.41 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $24.74 billion, a PE ratio of 24.84, a P/E/G ratio of 1.60 and a beta of 0.87. LPL Financial has a twelve month low of $187.19 and a twelve month high of $344.86. The company has a 50-day moving average price of $323.22 and a two-hundred day moving average price of $265.73.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $3.74 earnings per share. Equities analysts forecast that LPL Financial will post 16.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the second quarter valued at $25,000. Ashton Thomas Securities LLC bought a new stake in LPL Financial in the third quarter valued at $31,000. Paladin Wealth LLC bought a new stake in LPL Financial in the third quarter valued at $34,000. Brooklyn Investment Group bought a new stake in LPL Financial in the third quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its holdings in LPL Financial by 32.3% in the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 94 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.