LPL Financial Holdings Inc. (LPLA) Downgraded to Neutral at JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) from an overweight rating to a neutral rating in a research report released on Wednesday. They currently have $31.00 price target on the stock, up from their previous price target of $30.00.
Several other research firms have also recently weighed in on LPLA. Nomura dropped their price target on shares of LPL Financial Holdings from $28.00 to $27.00 and set a neutral rating for the company in a research note on Monday, July 11th. Zacks Investment Research raised shares of LPL Financial Holdings from a hold rating to a strong-buy rating and set a $25.00 price target for the company in a research note on Thursday, July 7th. Credit Suisse Group AG reissued a buy rating and issued a $28.00 price target on shares of LPL Financial Holdings in a research note on Friday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial Holdings from $26.00 to $30.00 and gave the company a market perform rating in a research note on Friday, July 29th. Finally, TheStreet raised shares of LPL Financial Holdings from a hold rating to a buy rating in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. LPL Financial Holdings has an average rating of Hold and an average price target of $28.69.
Shares of LPL Financial Holdings (NASDAQ:LPLA) traded down 3.32% during trading on Wednesday, reaching $30.27. 122,404 shares of the company were exchanged. The firm has a 50-day moving average price of $29.82 and a 200-day moving average price of $26.31. The stock has a market capitalization of $2.70 billion, a P/E ratio of 16.87 and a beta of 1.70. LPL Financial Holdings has a 1-year low of $15.38 and a 1-year high of $48.00.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.09. The company earned $1.02 billion during the quarter, compared to the consensus estimate of $1,000 million. LPL Financial Holdings had a net margin of 4.05% and a return on equity of 22.96%. LPL Financial Holdings’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts predict that LPL Financial Holdings will post $1.84 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in LPLA. WFG Advisors LP raised its stake in LPL Financial Holdings by 63.0% in the second quarter. WFG Advisors LP now owns 5,758 shares of the company’s stock worth $130,000 after buying an additional 2,226 shares during the period. Seven Eight Capital LLC raised its stake in shares of LPL Financial Holdings by 295,600.0% in the first quarter. Seven Eight Capital LLC now owns 5,914 shares of the company’s stock worth $147,000 after buying an additional 5,912 shares during the last quarter. Royal Bank of Canada raised its stake in shares of LPL Financial Holdings by 673.9% in the second quarter. Royal Bank of Canada now owns 7,507 shares of the company’s stock worth $169,000 after buying an additional 6,537 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of LPL Financial Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,977 shares of the company’s stock worth $202,000 after buying an additional 1,342 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in shares of LPL Financial Holdings during the second quarter worth $203,000.
About LPL Financial Holdings
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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