Jefferies Financial Group Trims LPL Financial (NASDAQ:LPLA) Target Price to $282.00

LPL Financial (NASDAQ:LPLA) had its target price cut by research analysts at Jefferies Financial Group from $309.00 to $282.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 16.38% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Barclays cut their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Wells Fargo & Company initiated coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group dropped their price target on LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $271.69.

LPL Financial Trading Up 2.7 %

LPL Financial stock traded up $6.48 during mid-day trading on Friday, hitting $242.32. The company’s stock had a trading volume of 514,112 shares, compared to its average volume of 728,993. The business has a 50 day moving average price of $216.29 and a 200-day moving average price of $249.62. LPL Financial has a 12 month low of $187.19 and a 12 month high of $289.88. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the business posted $3.94 EPS. LPL Financial’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts forecast that LPL Financial will post 15.88 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in LPL Financial by 20.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 922 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 155 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in LPL Financial by 1,911.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 99,703 shares of the financial services provider’s stock worth $22,694,000 after purchasing an additional 94,746 shares during the period. CIBC Private Wealth Group LLC raised its stake in LPL Financial by 45.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 9,724 shares of the financial services provider’s stock valued at $2,213,000 after buying an additional 3,046 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of LPL Financial by 17.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,597 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 689 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in shares of LPL Financial in the 4th quarter worth $270,000. 95.66% of the stock is 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.