LPL Financial (NASDAQ:LPLA) Price Target Lowered to $273.00 at Barclays

LPL Financial (NASDAQ:LPLA) had its price target dropped by equities researchers at Barclays from $313.00 to $273.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 17.95% from the company’s current price.

A number of other analysts have also weighed in on the company. Jefferies Financial Group upped their target price on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Raymond James initiated coverage on LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating for the company. UBS Group raised their price objective on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Hold” and a consensus target price of $284.27.

LPL Financial Stock Down 3.2 %

LPL Financial stock traded down $7.74 during mid-day trading on Friday, reaching $231.46. 894,358 shares of the company were exchanged, compared to its average volume of 660,090. The business has a fifty day moving average of $269.35 and a 200 day moving average of $261.76. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $17.29 billion, a P/E ratio of 17.48, a PEG ratio of 0.90 and a beta of 0.90. LPL Financial has a 12-month low of $200.18 and a 12-month high of $289.88.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. LPL Financial’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.94 earnings per share. Research analysts anticipate that LPL Financial will post 15.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Argent Capital Management LLC grew its stake in shares of LPL Financial by 366.6% during the 2nd quarter. Argent Capital Management LLC now owns 15,165 shares of the financial services provider’s stock worth $4,236,000 after purchasing an additional 11,915 shares during the period. LRI Investments LLC lifted its position in shares of LPL Financial by 2,531.1% during the 2nd quarter. LRI Investments LLC now owns 1,184 shares of the financial services provider’s stock valued at $331,000 after buying an additional 1,139 shares in the last quarter. &PARTNERS purchased a new position in shares of LPL Financial during the 2nd quarter valued at approximately $803,000. Lecap Asset Management Ltd. purchased a new position in shares of LPL Financial during the 2nd quarter valued at approximately $4,176,000. Finally, Fifth Third Bancorp lifted its position in shares of LPL Financial by 9,450.0% during the 2nd quarter. Fifth Third Bancorp now owns 573 shares of the financial services provider’s stock valued at $160,000 after buying an additional 567 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.