Several other analysts have also recently weighed in on the company. Citigroup cut Apergy from a buy rating to a neutral rating and lowered their price target for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. ValuEngine upgraded Vale from a sell rating to a hold rating in a research report on Tuesday, July 16th. Goldman Sachs Group reiterated a buy rating and set a GBX 265 ($3.46) price objective on shares of Tesco in a research report on Tuesday, April 2nd. Finally, Compass Point lowered LPL Financial from a buy rating to a neutral rating and set a $84.13 price objective on the stock. in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $83.88.
NASDAQ:LPLA opened at $85.37 on Thursday. The firm has a 50-day simple moving average of $82.97. LPL Financial has a twelve month low of $52.03 and a twelve month high of $86.43. The stock has a market cap of $7.12 billion, a PE ratio of 16.02, a P/E/G ratio of 0.82 and a beta of 1.34. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.60.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.33. LPL Financial had a return on equity of 53.97% and a net margin of 9.42%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that LPL Financial will post 6.98 earnings per share for the current fiscal year.
In related news, insider Tracy Calder sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.25, for a total transaction of $42,125.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 1,222 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $85.00, for a total value of $103,870.00. Following the transaction, the chief executive officer now owns 230,068 shares in the company, valued at $19,555,780. The disclosure for this sale can be found here. Insiders have sold a total of 7,722 shares of company stock worth $653,055 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in LPL Financial by 8.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 280 shares during the last quarter. APG Asset Management N.V. grew its position in LPL Financial by 75.7% during the 4th quarter. APG Asset Management N.V. now owns 887,500 shares of the financial services provider’s stock worth $47,420,000 after acquiring an additional 382,400 shares during the last quarter. Boston Advisors LLC grew its position in LPL Financial by 35.2% during the 1st quarter. Boston Advisors LLC now owns 90,577 shares of the financial services provider’s stock worth $6,309,000 after acquiring an additional 23,591 shares during the last quarter. Northpointe Capital LLC grew its position in LPL Financial by 7.9% during the 1st quarter. Northpointe Capital LLC now owns 60,786 shares of the financial services provider’s stock worth $4,234,000 after acquiring an additional 4,439 shares during the last quarter. Finally, Sciencast Management LP grew its position in LPL Financial by 140.4% during the 1st quarter. Sciencast Management LP now owns 9,858 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 5,758 shares during the last quarter. Institutional investors and hedge funds own 93.74% of the company’s stock.
LPL Financial Company Profile
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 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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