LPL Financial Holdings Inc. (NASDAQ:LPLA) Given Average Recommendation of “Buy” by Brokerages

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) have been given an average recommendation of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $221.00.

A number of research firms have commented on LPLA. Morgan Stanley lifted their target price on shares of LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 13th. Truist Financial lifted their target price on shares of LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. Citigroup lifted their target price on shares of LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. JMP Securities raised shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 target price for the company in a report on Thursday, April 7th. Finally, StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd.

Shares of LPL Financial stock opened at $170.62 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market cap of $13.64 billion, a P/E ratio of 30.04, a P/E/G ratio of 0.48 and a beta of 0.95. The firm has a 50 day simple moving average of $186.20 and a 200 day simple moving average of $174.81. LPL Financial has a fifty-two week low of $127.03 and a fifty-two week high of $220.80.

LPL Financial (NASDAQ:LPLAGet Rating) last released its earnings results on Thursday, April 28th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.16. LPL Financial had a net margin of 5.74% and a return on equity of 35.82%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that LPL Financial will post 9.69 EPS for the current year.

In related news, Director William Francis Glavin, Jr. acquired 1,760 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were acquired at an average cost of $141.59 per share, with a total value of $249,198.40. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dan H. Arnold sold 23,119 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $180.77, for a total transaction of $4,179,221.63. The disclosure for this sale can be found here. Insiders sold a total of 50,522 shares of company stock worth $9,151,744 over the last ninety days. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in LPL Financial by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 7,011,365 shares of the financial services provider’s stock worth $1,280,836,000 after buying an additional 93,283 shares in the last quarter. BlackRock Inc. lifted its position in LPL Financial by 1.9% during the 4th quarter. BlackRock Inc. now owns 3,692,832 shares of the financial services provider’s stock worth $591,186,000 after buying an additional 69,639 shares in the last quarter. Wellington Management Group LLP lifted its position in LPL Financial by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock worth $652,923,000 after buying an additional 248,255 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in LPL Financial by 6.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,440,941 shares of the financial services provider’s stock worth $390,772,000 after buying an additional 143,585 shares in the last quarter. Finally, Invesco Ltd. lifted its position in LPL Financial by 16.2% during the 1st quarter. Invesco Ltd. now owns 2,364,882 shares of the financial services provider’s stock worth $432,017,000 after buying an additional 329,899 shares in the last quarter. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

About LPL Financial (Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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