LPL Financial (LPLA) Downgraded to Sell at BidaskClub

BidaskClub cut shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Credit Suisse Group reissued a buy rating and set a $91.00 target price on shares of LPL Financial in a report on Monday, February 4th. Citigroup boosted their target price on LPL Financial to $100.00 and gave the stock a buy rating in a report on Friday, February 1st. Wells Fargo & Co lifted their price target on shares of LPL Financial from $61.00 to $65.00 and gave the stock a market perform rating in a research report on Friday, January 4th. Morgan Stanley set a $70.00 price target on shares of LPL Financial and gave the stock a hold rating in a research report on Friday, February 8th. Finally, ValuEngine upgraded shares of LPL Financial from a sell rating to a hold rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $82.38.

Shares of NASDAQ:LPLA opened at $73.50 on Friday. LPL Financial has a 12 month low of $52.03 and a 12 month high of $79.34. The company has a market cap of $6.20 billion, a P/E ratio of 13.79, a PEG ratio of 0.76 and a beta of 1.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.44.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.12. LPL Financial had a return on equity of 46.58% and a net margin of 8.47%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.36 billion. As a group, analysts anticipate that LPL Financial will post 6.48 earnings per share for the current fiscal year.

In other LPL Financial news, insider John Andrew Kalbaugh sold 40,000 shares of LPL Financial stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $76.94, for a total value of $3,077,600.00. Following the transaction, the insider now owns 62,691 shares in the company, valued at $4,823,445.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Gooley sold 25,392 shares of LPL Financial stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $74.06, for a total transaction of $1,880,531.52. Following the completion of the transaction, the insider now owns 17,293 shares in the company, valued at approximately $1,280,719.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,752 shares of company stock worth $9,742,408. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of LPLA. Norges Bank acquired a new position in LPL Financial in the fourth quarter worth approximately $72,501,000. American Century Companies Inc. grew its position in LPL Financial by 101.5% during the 4th quarter. American Century Companies Inc. now owns 1,496,567 shares of the financial services provider’s stock worth $91,410,000 after purchasing an additional 753,956 shares in the last quarter. Samlyn Capital LLC grew its position in LPL Financial by 28.1% during the 4th quarter. Samlyn Capital LLC now owns 2,676,322 shares of the financial services provider’s stock worth $163,470,000 after purchasing an additional 587,765 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in LPL Financial during the 1st quarter worth approximately $28,780,000. Finally, APG Asset Management N.V. grew its position in LPL Financial by 75.7% during the 4th quarter. APG Asset Management N.V. now owns 887,500 shares of the financial services provider’s stock worth $47,420,000 after purchasing an additional 382,400 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

About LPL Financial

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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