LPL Financial (LPLA) Rating Lowered to Buy at Goldman Sachs Group

LPL Financial (NASDAQ:LPLA) was downgraded by research analysts at Goldman Sachs Group from a “conviction-buy” rating to a “buy” rating in a research report issued on Tuesday, April 2nd, The Fly reports.

Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Wednesday, February 13th. BidaskClub lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Compass Point started coverage on shares of LPL Financial in a research report on Monday, March 11th. They issued a “buy” rating and a $82.00 price target on the stock. ValuEngine upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $81.22.

Shares of NASDAQ LPLA traded down $0.76 during mid-day trading on Tuesday, reaching $74.36. 417,569 shares of the company traded hands, compared to its average volume of 774,640. LPL Financial has a fifty-two week low of $52.03 and a fifty-two week high of $79.34. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $6.30 billion, a PE ratio of 13.95, a P/E/G ratio of 0.77 and a beta of 1.62.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.12. LPL Financial had a net margin of 8.47% and a return on equity of 46.58%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.36 billion. Sell-side analysts anticipate that LPL Financial will post 6.48 earnings per share for the current fiscal year.

In related news, CEO Dan H. Arnold sold 7,113 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $77.34, for a total value of $550,119.42. Following the completion of the transaction, the chief executive officer now owns 229,761 shares of the company’s stock, valued at approximately $17,769,715.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Andrew Kalbaugh sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $76.94, for a total transaction of $3,077,600.00. Following the completion of the transaction, the insider now directly owns 62,691 shares of the company’s stock, valued at approximately $4,823,445.54. The disclosure for this sale can be found here. Insiders sold a total of 128,752 shares of company stock valued at $9,742,408 in the last ninety days. Company insiders own 2.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LPLA. CWM LLC boosted its stake in shares of LPL Financial by 66.7% during the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after buying an additional 178 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of LPL Financial by 5.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 168 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of LPL Financial in the 4th quarter valued at $208,000. First Hawaiian Bank lifted its stake in shares of LPL Financial by 61.2% in the 1st quarter. First Hawaiian Bank now owns 3,770 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 1,431 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of LPL Financial by 8.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,358 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 341 shares during the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.

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 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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The Fly

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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