LPL Financial (NASDAQ:LPLA) Rating Lowered to Sell at StockNews.com

LPL Financial (NASDAQ:LPLA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

A number of other research analysts also recently commented on LPLA. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays raised their price objective on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. UBS Group raised their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Trading Up 0.2 %

NASDAQ:LPLA opened at $342.54 on Wednesday. LPL Financial has a 1 year low of $187.19 and a 1 year high of $384.04. The stock has a market cap of $25.58 billion, a P/E ratio of 24.40, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50-day simple moving average of $352.40 and a 200-day simple moving average of $309.86.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds have recently made changes to their positions in LPLA. Graney & King LLC purchased a new position in shares of LPL Financial in the 4th quarter worth about $30,000. Fourth Dimension Wealth LLC acquired a new stake in LPL Financial during the 4th quarter worth approximately $40,000. Itau Unibanco Holding S.A. purchased a new position in LPL Financial in the fourth quarter valued at approximately $42,000. Brooklyn Investment Group purchased a new position in LPL Financial in the third quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp lifted its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 95.66% 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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.