LPL Financial (NASDAQ:LPLA) Upgraded by JPMorgan Chase & Co. to Overweight Rating

LPL Financial (NASDAQ:LPLA) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a $397.00 price target on the financial services provider’s stock, up from their prior price target of $288.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 19.07% from the stock’s previous close.

Several other equities analysts have also issued reports on LPLA. Jefferies Financial Group decreased their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company boosted their target price on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group raised their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $345.17.

LPL Financial Stock Down 0.7 %

LPLA stock opened at $333.42 on Tuesday. The company has a market cap of $24.97 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 52 week low of $187.19 and a 52 week high of $344.86. The business has a 50-day simple moving average of $319.81 and a 200 day simple moving average of $264.48.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.74 EPS. Sell-side analysts anticipate that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bridges Investment Management Inc. raised its holdings in shares of LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares during the last quarter. Avior Wealth Management LLC increased its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 42 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 43 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of LPL Financial by 1.1% in the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after purchasing an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.