LPL Financial (NASDAQ:LPLA) Stock Rating Lowered by StockNews.com

LPL Financial (NASDAQ:LPLA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued research reports about the company. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Morgan Stanley upped their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Price Performance

LPLA opened at $333.19 on Wednesday. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04. The company has a 50 day moving average of $352.16 and a two-hundred day moving average of $310.23. The company has a market cap of $24.88 billion, a P/E ratio of 23.73, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

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

Insider Buying and Selling at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated 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 directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds have recently made changes to their positions in LPLA. Graney & King LLC acquired a new stake in LPL Financial in the 4th quarter valued at approximately $30,000. Fourth Dimension Wealth LLC acquired a new position in shares of LPL Financial during the fourth quarter valued at $40,000. Itau Unibanco Holding S.A. acquired a new stake in LPL Financial in the fourth quarter worth about $42,000. Brooklyn Investment Group acquired a new stake in LPL Financial in the third quarter worth about $43,000. Finally, Jones Financial Companies Lllp grew its position in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. 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.