Goldman Sachs Group, Inc. (The) upgraded shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) from a sell rating to a neutral rating in a research note published on Tuesday. Goldman Sachs Group, Inc. (The) currently has $40.00 price objective on the stock, up from their previous price objective of $34.00.

A number of other equities research analysts have also recently issued reports on LPLA. Zacks Investment Research upgraded LPL Financial Holdings from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research note on Tuesday, September 13th. J P Morgan Chase & Co cut LPL Financial Holdings from an overweight rating to a neutral rating and boosted their price objective for the company from $30.00 to $31.00 in a research note on Wednesday, October 12th. Morgan Stanley began coverage on LPL Financial Holdings in a research note on Monday, September 26th. They issued an underweight rating and a $27.00 price objective on the stock. Finally, SunTrust Banks, Inc. restated a hold rating and issued a $36.00 price objective (up from $35.00) on shares of LPL Financial Holdings in a research note on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $31.87.

Shares of LPL Financial Holdings (NASDAQ:LPLA) traded up 1.57% on Tuesday, reaching $38.82. 321,242 shares of the company were exchanged. The firm has a market capitalization of $3.46 billion, a PE ratio of 20.07 and a beta of 1.84. The stock’s 50-day moving average is $37.61 and its 200 day moving average is $30.70. LPL Financial Holdings has a 12-month low of $15.38 and a 12-month high of $42.86.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. LPL Financial Holdings had a return on equity of 24.56% and a net margin of 4.36%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings will post $2.04 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. BOKF NA raised its position in shares of LPL Financial Holdings by 4.3% in the third quarter. BOKF NA now owns 9,522 shares of the company’s stock valued at $285,000 after buying an additional 395 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of LPL Financial Holdings by 9.4% in the third quarter. Integrated Investment Consultants LLC now owns 4,675 shares of the company’s stock valued at $149,000 after buying an additional 400 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of LPL Financial Holdings by 5.5% in the second quarter. Principal Financial Group Inc. now owns 17,085 shares of the company’s stock valued at $385,000 after buying an additional 897 shares during the last quarter. Amalgamated Bank raised its position in shares of LPL Financial Holdings by 11.3% in the second quarter. Amalgamated Bank now owns 10,862 shares of the company’s stock valued at $294,000 after buying an additional 1,107 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of LPL Financial Holdings by 4.6% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 27,375 shares of the company’s stock valued at $819,000 after buying an additional 1,200 shares during the last quarter.

LPL Financial Holdings Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.

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