LPL Financial (NASDAQ:LPLA) Given New $405.00 Price Target at JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $397.00 to $405.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.61% from the company’s current price.

A number of other equities research analysts also recently weighed in on LPLA. Morgan Stanley raised their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Monday, January 6th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Jefferies Financial Group dropped their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $368.00.

LPL Financial Stock Up 2.1 %

Shares of NASDAQ:LPLA traded up $7.71 during mid-day trading on Friday, reaching $369.51. 645,126 shares of the stock were exchanged, compared to its average volume of 551,797. The company has a market cap of $27.67 billion, a P/E ratio of 27.77, a P/E/G ratio of 1.11 and a beta of 0.87. The stock’s 50 day simple moving average is $334.85 and its 200-day simple moving average is $273.11. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a one year low of $187.19 and a one year high of $375.74.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data 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 49.47% and a net margin of 8.73%. As a group, equities research analysts predict that LPL Financial will post 16.17 EPS for the current year.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its holdings in LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after acquiring an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in LPL Financial during the 3rd quarter valued at $2,633,000. Principal Financial Group Inc. raised its holdings in LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after buying an additional 3,444 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after buying an additional 1,383 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares during 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.