Barclays Has Lowered Expectations for LPL Financial (NASDAQ:LPLA) Stock Price
by Tristan Rich · The Markets DailyLPL Financial (NASDAQ:LPLA – Get Free Report) had its price target cut by stock analysts at Barclays from $435.00 to $369.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 18.58% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Wolfe Research set a $478.00 price objective on shares of LPL Financial in a research note on Friday, January 30th. Morgan Stanley decreased their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. TD Cowen decreased their price target on shares of LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research note on Friday, January 30th. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price target on shares of LPL Financial in a research note on Monday. Finally, UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $406.00 to $380.00 in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $407.14.
View Our Latest Stock Analysis on LPLA
LPL Financial Stock Performance
LPL Financial stock traded up $13.76 during trading hours on Wednesday, reaching $311.19. 402,811 shares of the stock were exchanged, compared to its average volume of 977,816. The stock has a market cap of $24.95 billion, a P/E ratio of 28.23, a P/E/G ratio of 0.78 and a beta of 0.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. LPL Financial has a 52-week low of $266.62 and a 52-week high of $403.58. The firm’s 50 day moving average is $320.43 and its 200 day moving average is $343.17.
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.41. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. LPL Financial’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.25 EPS. Analysts predict that LPL Financial will post 19.35 EPS for the current fiscal year.
Insider Buying and Selling at LPL Financial
In other LPL Financial news, Director Matthew Enyedi sold 2,109 shares of LPL Financial stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $320.15, for a total transaction of $675,196.35. Following the transaction, the director directly owned 14,121 shares of the company’s stock, valued at $4,520,838.15. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 2,212 shares of LPL Financial stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $308.75, for a total transaction of $682,955.00. Following the transaction, the director directly owned 5,488 shares in the company, valued at approximately $1,694,420. This trade represents a 28.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,990 shares of company stock valued at $2,201,837 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Institutional Trading of LPL Financial
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of LPL Financial by 4.0% during the third quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider’s stock valued at $2,762,581,000 after purchasing an additional 317,002 shares during the period. Dodge & Cox grew its position in shares of LPL Financial by 18.6% during the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after buying an additional 619,715 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of LPL Financial by 14.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after buying an additional 477,094 shares in the last quarter. Capital World Investors grew its position in shares of LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after buying an additional 996,806 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of LPL Financial by 9.0% during the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock worth $1,206,371,000 after buying an additional 280,202 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
About LPL Financial
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.