LPL Financial (NASDAQ:LPLA) Stock Rated Overweight in New Coverage at Wells Fargo & Company

Research analysts at Wells Fargo & Company initiated coverage on shares of LPL Financial (NASDAQ:LPLA – Get Free Report) in a report released on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $362.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 14.40% from the company’s current price.

LPLA has been the topic of a number of other reports. BMO Capital Markets raised their price target on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. UBS Group decreased their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Morgan Stanley upped their price target on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $403.79.

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LPL Financial Trading Up 1.4%

Shares of NASDAQ:LPLA opened at $316.44 on Friday. The stock has a 50 day moving average of $347.04 and a 200 day moving average of $317.70. The company has a market cap of $24.92 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 0.52 and a beta of 0.53. LPL Financial has a 12-month low of $260.15 and a 12-month high of $400.16. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30.

LPL Financial (NASDAQ:LPLA – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter last year, the business earned $4.51 EPS. The firm’s revenue was up 35.2% compared to the same quarter last year. As a group, equities research analysts expect that LPL Financial will post 24.28 EPS for the current year.

Insider Buying and Selling

In other news, insider Katharine Reeping sold 440 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the sale, the insider owned 1,774 shares in the company, valued at approximately $617,139.12. This trade represents a 19.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,867 shares of company stock worth $2,079,664. 0.60% of the stock is owned by company insiders.

Institutional Trading of LPL Financial

Several institutional investors have recently added to or reduced their stakes in LPLA. Physician Wealth Advisors Inc. boosted its position in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 116 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of LPL Financial in the 4th quarter worth approximately $50,000. Reflection Asset Management purchased a new stake in LPL Financial during the fourth quarter valued at approximately $50,000. Versant Capital Management Inc boosted its stake in LPL Financial by 79.0% in the second quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 83 shares in the last quarter. Finally, Abound Financial LLC grew its holdings in LPL Financial by 9,550.0% in the first quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

(Get Free Report)

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.

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