LPL Financial Holdings Inc. (NASDAQ:LPLA) had its price objective boosted by analysts at Citigroup Inc. from $60.50 to $65.00 in a report released on Monday. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup Inc.’s price objective indicates a potential upside of 30.31% from the company’s previous close.
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $42.00 price target on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Morgan Stanley reiterated an “underweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. Finally, BidaskClub upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.50.
LPL Financial Holdings (LPLA) traded down 0.56% during trading on Monday, reaching $49.60. The company had a trading volume of 899,821 shares. The firm’s 50 day moving average price is $50.84 and its 200 day moving average price is $44.81. LPL Financial Holdings has a 12-month low of $30.77 and a 12-month high of $53.92. The firm has a market capitalization of $4.46 billion, a PE ratio of 21.55 and a beta of 1.87.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial Holdings had a net margin of 5.19% and a return on equity of 26.63%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. Equities research analysts forecast that LPL Financial Holdings will post $2.30 EPS for the current year.
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A number of large investors have recently modified their holdings of LPLA. Janus Henderson Group PLC bought a new position in LPL Financial Holdings during the 2nd quarter valued at about $399,202,000. BlackRock Inc. grew its holdings in LPL Financial Holdings by 11,835.9% during the 1st quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock valued at $139,907,000 after purchasing an additional 3,483,173 shares during the last quarter. Vanguard Group Inc. grew its holdings in LPL Financial Holdings by 16.7% during the 1st quarter. Vanguard Group Inc. now owns 7,952,138 shares of the financial services provider’s stock valued at $316,734,000 after purchasing an additional 1,136,785 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in LPL Financial Holdings during the 3rd quarter valued at about $31,835,000. Finally, Samlyn Capital LLC grew its holdings in LPL Financial Holdings by 55.6% during the 2nd quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after purchasing an additional 528,780 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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