Barclays Issues Pessimistic Forecast for LPL Financial (NASDAQ:LPLA) Stock Price

LPL Financial (NASDAQ:LPLA) had its price objective lowered by Barclays from $414.00 to $365.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 27.23% from the company’s previous close.

LPLA has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup decreased their price objective on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.83.

LPL Financial Trading Down 0.3 %

Shares of NASDAQ LPLA opened at $286.89 on Monday. The company has a market cap of $21.40 billion, a PE ratio of 20.43, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm’s 50 day moving average price is $344.11 and its 200-day moving average price is $317.19. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, equities research analysts expect that LPL Financial will post 19.35 EPS for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. HighTower Advisors LLC boosted its position in shares of LPL Financial by 7.8% during the third quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider’s stock worth $2,971,000 after acquiring an additional 923 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of LPL Financial by 1.1% during the 3rd 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 during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of LPL Financial by 4.0% during the 3rd quarter. Quantinno Capital Management LP now owns 14,394 shares of the financial services provider’s stock valued at $3,349,000 after purchasing an additional 550 shares during the last quarter. Wellington Management Group LLP grew its position in shares of LPL Financial by 32.8% during the third quarter. Wellington Management Group LLP now owns 227,157 shares of the financial services provider’s stock valued at $52,844,000 after purchasing an additional 56,070 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of LPL Financial by 4.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 5,649 shares of the financial services provider’s stock worth $1,297,000 after purchasing an additional 247 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.