LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by JPMorgan Chase & Co.

LPL Financial (NASDAQ:LPLA) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $397.00 price objective on the financial services provider’s stock, up from their previous price objective of $288.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.97% from the stock’s current price.

LPLA has been the subject of several other reports. Jefferies Financial Group decreased their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays boosted their target price on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.17.

LPL Financial Stock Up 1.0 %

Shares of NASDAQ LPLA opened at $336.53 on Tuesday. LPL Financial has a 52-week low of $187.19 and a 52-week high of $344.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company’s 50 day moving average price is $318.41 and its 200-day moving average price is $264.08. The company has a market capitalization of $25.20 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $3.74 EPS. Equities analysts forecast that LPL Financial will post 16.1 earnings per share for the current year.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently added to or reduced their stakes in LPLA. Principal Financial Group Inc. boosted its stake in LPL Financial by 47.9% in the second quarter. Principal Financial Group Inc. now owns 21,974 shares of the financial services provider’s stock valued at $6,137,000 after acquiring an additional 7,112 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in LPL Financial by 3.6% in the second quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 197 shares during the last quarter. Candriam S.C.A. grew its holdings in LPL Financial by 29.3% during the second quarter. Candriam S.C.A. now owns 8,110 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 1,837 shares during the period. Acadian Asset Management LLC raised its stake in shares of LPL Financial by 7.7% in the second quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider’s stock valued at $1,548,000 after buying an additional 398 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of LPL Financial during the 2nd quarter valued at $867,000. Institutional investors own 95.66% 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 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.