LPL Financial (NASDAQ:LPLA) Price Target Lowered to $433.00 at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) had its price objective dropped by analysts at JPMorgan Chase & Co. from $440.00 to $433.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.87% from the stock’s previous close.

LPLA has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. Citizens Jmp lifted their price target on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. BMO Capital Markets initiated coverage on shares of LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price objective for the company. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research report on Friday, October 31st. Finally, TD Cowen upped their price target on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $429.80.

LPL Financial Price Performance

LPLA traded down $4.14 on Tuesday, reaching $361.22. The company had a trading volume of 61,929 shares, compared to its average volume of 473,677. LPL Financial has a 52-week low of $262.83 and a 52-week high of $403.58. The company has a market cap of $28.91 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 0.75 and a beta of 0.57. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The business has a 50 day simple moving average of $365.47 and a 200 day simple moving average of $358.89.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $4.16 EPS. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that LPL Financial will post 19.35 EPS for the current year.

Insider Transactions at LPL Financial

In related news, CEO Richard Steinmeier sold 5,058 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the transaction, the chief executive officer owned 9,326 shares in the company, valued at $3,459,852.74. This represents a 35.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the sale, the director owned 5,502 shares in the company, valued at approximately $1,939,344.96. This trade represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 7,388 shares of company stock worth $2,747,538. 0.70% of the stock is currently owned by insiders.

Institutional Trading of LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new stake in LPL Financial during the 2nd quarter valued at $26,000. SJS Investment Consulting Inc. boosted its position in shares of LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares during the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of LPL Financial during the third quarter valued at $27,000. Eastern Bank increased its holdings in LPL Financial by 72.0% in the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after buying an additional 36 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after buying an additional 43 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.