LPL Financial Holdings Inc (NASDAQ:LPLA) – Research analysts at William Blair issued their Q1 2019 earnings estimates for LPL Financial in a research report issued to clients and investors on Thursday. William Blair analyst C. Shutler anticipates that the financial services provider will earn $1.29 per share for the quarter. William Blair also issued estimates for LPL Financial’s Q2 2019 earnings at $1.33 EPS, Q3 2019 earnings at $1.19 EPS and Q4 2019 earnings at $1.22 EPS.
LPLA has been the topic of several other research reports. Zacks Investment Research downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Credit Suisse Group started coverage on LPL Financial in a research report on Thursday, November 30th. They set an “outperform” rating and a $68.00 target price for the company. Citigroup boosted their target price on LPL Financial from $60.50 to $65.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Wells Fargo & Co restated a “market perform” rating and set a $60.00 target price (up from $52.00) on shares of LPL Financial in a research report on Thursday, January 4th. Finally, Nomura boosted their target price on LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. LPL Financial presently has a consensus rating of “Buy” and an average price target of $66.00.
Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in shares of LPL Financial by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the period. Cerebellum GP LLC purchased a new position in shares of LPL Financial during the fourth quarter valued at about $122,000. Comerica Bank purchased a new position in shares of LPL Financial during the third quarter valued at about $200,000. Virginia Retirement Systems ET AL purchased a new position in shares of LPL Financial during the third quarter valued at about $227,000. Finally, FNY Partners Fund LP purchased a new position in shares of LPL Financial during the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
In other news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by insiders.
LPL Financial declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 5th that permits the company to buyback $359.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
About LPL Financial
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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