LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

LPL Financial (NASDAQ:LPLA) had its price objective upped by JPMorgan Chase & Co. from $428.00 to $445.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 37.01% from the stock’s current price.

LPLA has been the subject of several other reports. BMO Capital Markets cut their target price on LPL Financial from $390.00 to $370.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America lowered their price target on LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a report on Monday. Barclays upped their price objective on LPL Financial from $401.00 to $409.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Capital One Financial set a $370.00 price target on shares of LPL Financial in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $411.31.

LPL Financial Price Performance

LPLA traded down $7.59 on Wednesday, hitting $324.80. 259,424 shares of the stock were exchanged, compared to its average volume of 901,380. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.55 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial has a 12 month low of $260.15 and a 12 month high of $400.16. The business has a 50-day moving average of $346.85 and a two-hundred day moving average of $318.52.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.51 EPS. Sell-side analysts forecast that LPL Financial will post 24.24 EPS for the current fiscal year.

Insider Transactions at LPL Financial

In other news, insider Katharine Reeping sold 440 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the transaction, the insider owned 1,774 shares of the company’s stock, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the sale, the director owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,867 shares of company stock worth $2,079,664. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Several institutional investors have recently modified their holdings of the business. CX Institutional grew its stake in shares of LPL Financial by 268.9% in the third quarter. CX Institutional now owns 225 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in LPL Financial by 5.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,452 shares of the financial services provider’s stock worth $972,000 after buying an additional 168 shares during the period. Anchor Investment Management LLC lifted its holdings in LPL Financial by 0.7% during the 2nd quarter. Anchor Investment Management LLC now owns 10,962 shares of the financial services provider’s stock worth $3,088,000 after buying an additional 78 shares during the period. National Pension Service grew its position in shares of LPL Financial by 14.8% in the 2nd quarter. National Pension Service now owns 161,309 shares of the financial services provider’s stock valued at $45,438,000 after buying an additional 20,758 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of LPL Financial by 2,011.8% in the 2nd quarter. WINTON GROUP Ltd now owns 21,878 shares of the financial services provider’s stock valued at $6,163,000 after buying an additional 20,842 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.