JPMorgan Chase & Co. Issues Positive Forecast for LPL Financial (NASDAQ:LPLA) Stock Price

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

A number of other research analysts also recently issued reports on LPLA. Capital One Financial set a $370.00 price objective on LPL Financial in a research note on Tuesday. Wolfe Research reiterated an “outperform” rating and issued a $454.00 target price on shares of LPL Financial in a report on Wednesday, August 12th. Barclays boosted their price target on LPL Financial from $401.00 to $409.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, UBS Group set a $390.00 target price on shares of LPL Financial in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and an average target price of $411.31.

LPL Financial Trading Down 2.3%

NASDAQ LPLA traded down $7.59 during mid-day trading on Wednesday, reaching $324.80. 259,424 shares of the stock were exchanged, compared to its average volume of 901,380. LPL Financial has a one year low of $260.15 and a one year high of $400.16. The stock has a 50 day simple moving average of $346.85 and a 200-day simple moving average of $318.52. The stock has a market cap of $25.57 billion, a P/E ratio of 25.88, a P/E/G 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 (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the firm posted $4.51 earnings per share. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts anticipate that LPL Financial will post 24.24 EPS for the current year.

Insider Buying and Selling at LPL Financial

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

Hedge Funds Weigh In On LPL Financial

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia raised its holdings in LPL Financial by 0.7% during the first quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider’s stock valued at $1,716,000 after acquiring an additional 37 shares during the period. Sterling Group Wealth Management LLC grew its position in shares of LPL Financial by 0.7% during the first quarter. Sterling Group Wealth Management LLC now owns 5,869 shares of the financial services provider’s stock worth $1,766,000 after purchasing an additional 42 shares in the last quarter. Berger Financial Group Inc grew its position in shares of LPL Financial by 6.1% during the first quarter. Berger Financial Group Inc now owns 749 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 43 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in LPL Financial by 4.2% during the 2nd quarter. Central Pacific Bank Trust Division now owns 1,230 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 50 shares during the period. Finally, Marks Group Wealth Management Inc raised its stake in LPL Financial by 7.6% during the 4th quarter. Marks Group Wealth Management Inc now owns 793 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds 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.