Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have received an average rating of “Buy” from the twelve analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $49.70.
Several research analysts have recently commented on LPLA shares. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Wednesday. ValuEngine downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Morgan Stanley raised their price objective on LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $51.00 price objective (up previously from $48.00) on shares of LPL Financial Holdings in a research note on Friday, August 18th. Finally, Nomura raised their price objective on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th.
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Several institutional investors have recently made changes to their positions in LPLA. Bank of New York Mellon Corp boosted its holdings in shares of LPL Financial Holdings by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 466,342 shares of the financial services provider’s stock worth $18,573,000 after purchasing an additional 19,407 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of LPL Financial Holdings by 23.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 62,614 shares of the financial services provider’s stock worth $2,494,000 after purchasing an additional 11,776 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of LPL Financial Holdings by 186.6% in the 1st quarter. JPMorgan Chase & Co. now owns 278,936 shares of the financial services provider’s stock worth $11,110,000 after purchasing an additional 181,620 shares during the period. SG Americas Securities LLC purchased a new position in shares of LPL Financial Holdings in the 1st quarter worth approximately $171,000. Finally, Teachers Advisors LLC boosted its holdings in shares of LPL Financial Holdings by 52.2% in the 1st quarter. Teachers Advisors LLC now owns 199,905 shares of the financial services provider’s stock worth $7,962,000 after purchasing an additional 68,555 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.
Shares of LPL Financial Holdings (NASDAQ LPLA) traded up 0.739% during midday trading on Friday, reaching $52.515. The company had a trading volume of 453,144 shares. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 22.813 and a beta of 1.87. The company has a 50 day moving average of $49.25 and a 200 day moving average of $43.94. LPL Financial Holdings has a 12-month low of $30.18 and a 12-month high of $53.58.
LPL Financial Holdings (NASDAQ:LPLA) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. LPL Financial Holdings’s revenue was up 4.5% on a year-over-year basis. Analysts anticipate that LPL Financial Holdings will post $2.37 EPS for the current year.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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