LPL Financial (NASDAQ:LPLA) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of LPL Financial (NASDAQ:LPLA) in a research report issued on Thursday, MarketBeat reports. The firm set an “equal weight” rating and a $235.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 14.24% from the stock’s previous close.

A number of other research analysts also recently issued reports on LPLA. JPMorgan Chase & Co. upped their price target on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods decreased their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Jefferies Financial Group raised their price target on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a report on Monday, July 8th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. Finally, TD Cowen increased their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $275.27.

LPL Financial Stock Down 0.6 %

Shares of LPL Financial stock opened at $205.71 on Thursday. The company has a 50-day simple moving average of $223.27 and a two-hundred day simple moving average of $254.20. The stock has a market capitalization of $15.38 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.94 EPS. On average, analysts anticipate that LPL Financial will post 15.9 EPS for the current fiscal year.

Hedge Funds Weigh In On LPL Financial

Several institutional investors and hedge funds have recently bought and sold shares of LPLA. Vanguard Group Inc. increased its position in LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after buying an additional 48,439 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after acquiring an additional 233,242 shares in the last quarter. Boston Partners increased its holdings in LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after acquiring an additional 738,509 shares in the last quarter. Samlyn Capital LLC lifted its holdings in LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after purchasing an additional 275,286 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.