LPL Financial (NASDAQ:LPLA) Price Target Lowered to $400.00 at Citigroup

LPL Financial (NASDAQ:LPLA - Get Free Report) had its price target dropped by stock analysts at Citigroup from $415.00 to $400.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Citigroup's price target would suggest a potential upside of 38.96% from the company's current price.

Several other equities research analysts have also commented on LPLA. Wells Fargo & Company upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group raised their price target on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and increased their target price for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Barclays upped their price objective on LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $376.33.

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LPL Financial Stock Up 1.6 %

Shares of LPLA stock traded up $4.55 during trading hours on Wednesday, hitting $287.86. 2,067,487 shares of the company's stock traded hands, compared to its average volume of 806,969. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock's fifty day simple moving average is $348.34 and its two-hundred day simple moving average is $316.43. LPL Financial has a 12-month low of $187.19 and a 12-month high of $384.04. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, analysts expect that LPL Financial will post 19.35 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Matthew J. Audette sold 4,588 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by insiders.

Institutional Trading of LPL Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of LPL Financial in the 4th quarter valued at about $305,747,000. Raymond James Financial Inc. purchased a new position in shares of LPL Financial during the 4th quarter valued at approximately $295,982,000. Boston Partners increased its holdings in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after acquiring an additional 805,637 shares in the last quarter. Janus Henderson Group PLC raised its position in LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after acquiring an additional 522,032 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in LPL Financial during the fourth quarter valued at $153,946,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.