Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) were down 2.4% during mid-day trading on Thursday . The stock traded as low as $23.14 and last traded at $23.50, with a volume of 1,111,801 shares traded. The stock had previously closed at $24.07.

Several analysts recently issued reports on LPLA shares. Goldman Sachs Group Inc. lowered LPL Financial Holdings from a “neutral” rating to a “sell” rating and upped their target price for the stock from $19.00 to $21.00 in a report on Tuesday, April 5th. They noted that the move was a valuation call. Vetr raised LPL Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $27.19 price target on the stock in a research report on Monday, March 28th. Credit Suisse Group AG boosted their price target on LPL Financial Holdings from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, March 18th. SunTrust Banks Inc. assumed coverage on LPL Financial Holdings in a research report on Tuesday, March 22nd. They set a “neutral” rating and a $23.00 price target on the stock. Finally, Nomura Holdings Inc. boosted their price target on LPL Financial Holdings from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.05.

The stock has a 50 day moving average price of $24.36 and a 200 day moving average price of $26.17. The company has a market cap of $2.09 billion and a price-to-earnings ratio of 13.28.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The business earned $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business posted $0.64 EPS. LPL Financial Holdings’s revenue was down 9.4% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings Inc. will post $1.76 EPS for the current fiscal year.

A number of institutional investors have made changes to their positions in the stock. Cowen Group Inc. acquired a new position in shares of LPL Financial Holdings during the fourth quarter valued at $5,090,000. Wells Fargo & Company MN boosted its position in shares of 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 during the last quarter. Eaton Vance Management boosted its position in shares of LPL Financial Holdings by 79.4% in the fourth quarter. Eaton Vance Management now owns 76,195 shares of the company’s stock valued at $3,250,000 after buying an additional 33,730 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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 during the last quarter. Finally, TD Asset Management Inc. boosted its position in shares of LPL Financial Holdings by 8.8% in the fourth quarter. TD Asset Management Inc. now owns 123,000 shares of the company’s stock valued at $5,246,000 after buying an additional 9,900 shares during 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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