LPL Financial Holdings Inc. (LPLA) Rating Reiterated by SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their hold rating on shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in a research report sent to investors on Tuesday, July 4th, StockTargetPrices.com reports. They currently have a $42.00 target price on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Nomura upgraded shares of LPL Financial Holdings from a neutral rating to a buy rating and increased their target price for the stock from $46.00 to $51.00 in a report on Friday, April 28th. Citigroup Inc. upgraded shares of LPL Financial Holdings from a neutral rating to a buy rating in a report on Friday, April 28th. Instinet upgraded shares of LPL Financial Holdings from a neutral rating to a buy rating and increased their target price for the stock from $46.00 to $51.00 in a report on Friday, April 28th. Keefe, Bruyette & Woods upgraded shares of LPL Financial Holdings from a market perform rating to an outperform rating and increased their target price for the stock from $44.00 to $48.00 in a report on Friday, April 28th. Finally, Zacks Investment Research cut shares of LPL Financial Holdings from a buy rating to a hold rating in a report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $42.73.

Shares of LPL Financial Holdings (NASDAQ LPLA) traded up 1.88% during midday trading on Tuesday, hitting $45.98. 1,535,324 shares of the stock were exchanged. LPL Financial Holdings has a 12 month low of $24.46 and a 12 month high of $46.62. The firm has a 50 day moving average of $42.85 and a 200-day moving average of $40.59. The stock has a market cap of $4.15 billion, a P/E ratio of 19.97 and a beta of 1.82.

LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.97%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that LPL Financial Holdings will post $2.49 EPS for the current year.

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In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the sale, the insider now directly owns 49,691 shares of the company’s stock, valued at $1,954,843.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in LPLA. Tyers Asset Management LLC bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $138,000. Glen Harbor Capital Management LLC bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $294,000. ProShare Advisors LLC raised its position in shares of LPL Financial Holdings by 6.8% in the first quarter. ProShare Advisors LLC now owns 11,656 shares of the financial services provider’s stock valued at $464,000 after buying an additional 744 shares during the last quarter. James Investment Research Inc. bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $142,000. Finally, Alpha Windward LLC bought a new position in shares of LPL Financial Holdings during the first quarter valued at approximately $471,000. 90.80% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Holdings Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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