Citigroup – LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives Consensus Recommendation of “Buy” from Analysts

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned a consensus rating of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $99.55.

A number of research analysts recently weighed in on LPLA shares. BidaskClub upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Tuesday, December 8th. Citigroup boosted their price target on shares of LPL Financial from $111.00 to $118.50 and gave the stock a “buy” rating in a report on Tuesday, September 8th. ValuEngine upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of LPL Financial from $132.50 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 17th. Finally, Smith Barney Citigroup boosted their price target on shares of LPL Financial from $113.50 to $132.50 in a report on Wednesday, November 11th.

LPL Financial stock opened at $104.22 on Friday. The company’s 50 day simple moving average is $97.40 and its 200-day simple moving average is $84.14. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 17.34 and a beta of 1.49. LPL Financial has a 1 year low of $32.01 and a 1 year high of $105.77. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.31 and a current ratio of 1.30.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. LPL Financial had a net margin of 8.50% and a return on equity of 49.27%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 earnings per share. Equities analysts expect that LPL Financial will post 6.25 earnings per share for the current year.

In related news, Director Sallie R. Larsen sold 5,225 shares of the company’s stock in a transaction on Tuesday, November 24th. The shares were sold at an average price of $95.00, for a total value of $496,375.00. Following the completion of the sale, the director now owns 22,680 shares in the company, valued at approximately $2,154,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michelle Oroschakoff sold 4,000 shares of the company’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $86.79, for a total transaction of $347,160.00. Following the completion of the sale, the director now owns 23,857 shares of the company’s stock, valued at approximately $2,070,549.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,525 shares of company stock valued at $1,418,221. Company insiders own 2.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LPLA. US Bancorp DE raised its position in LPL Financial by 81.3% in the 2nd quarter. US Bancorp DE now owns 2,030 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 910 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in LPL Financial during the 3rd quarter worth $203,000. Intersect Capital LLC purchased a new position in LPL Financial during the 3rd quarter worth $214,000. Northstar Wealth Partners LLC purchased a new position in LPL Financial during the 2nd quarter worth $226,000. Finally, Macquarie Group Ltd. raised its position in LPL Financial by 52.4% during the 2nd quarter. Macquarie Group Ltd. now owns 3,237 shares of the financial services provider’s stock worth $254,000 after buying an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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 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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