LPL Financial Holdings Inc. (LPLA) Shares Down 2.4%
LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price traded down 2.4% during mid-day trading on Thursday . The company traded as low as $23.14 and last traded at $23.50, with a volume of 1,111,801 shares. The stock had previously closed at $24.07.
A number of equities analysts have issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of LPL Financial Holdings in a report on Saturday, March 19th. Citigroup Inc. restated a “hold” rating on shares of LPL Financial Holdings in a report on Sunday, May 29th. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Thursday, May 5th. Nomura decreased their price objective on LPL Financial Holdings from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday. Finally, Nomura Holdings Inc. restated a “neutral” rating and issued a $28.00 price objective on shares of LPL Financial Holdings in a report on Friday, May 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.05.
The company has a market capitalization of $2.13 billion and a PE ratio of 13.51. The stock has a 50 day moving average of $24.47 and a 200 day moving average of $26.30.
LPL Financial Holdings (NASDAQ:LPLA) last posted its earnings results on Thursday, April 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.12. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. Analysts anticipate that LPL Financial Holdings Inc. will post $1.75 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of LPLA. Wells Fargo & Company MN boosted its stake in LPL Financial Holdings by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 571,012 shares of the company’s stock valued at $24,353,000 after buying an additional 104,608 shares in the last quarter. Cooke & Bieler LP boosted its stake in LPL Financial Holdings by 49.8% in the fourth quarter. Cooke & Bieler LP now owns 391,040 shares of the company’s stock valued at $16,678,000 after buying an additional 130,000 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in LPL Financial Holdings by 14.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 235,185 shares of the company’s stock valued at $10,031,000 after buying an additional 29,067 shares in the last quarter. Cowen Group Inc. purchased a new stake in LPL Financial Holdings during the fourth quarter valued at about $5,090,000. Finally, Clarkston Capital Partners LLC boosted its stake in LPL Financial Holdings by 128.6% in the fourth quarter. Clarkston Capital Partners LLC now owns 826,385 shares of the company’s stock valued at $35,245,000 after buying an additional 464,895 shares in the last quarter.
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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