LPL Financial Holdings Inc (LPLA) was Initiated by Morgan Stanley to “Underweight” and the brokerage firm has set the Price Target at $27. Morgan Stanley advised their investors in a research report released on Sep 26, 2016.
Many Wall Street Analysts have commented on LPL Financial Holdings Inc. LPL Financial Holdings Inc was Downgraded by Credit Suisse to ” Neutral” on Aug 22, 2016.
On the company’s financial health, LPL Financial Holdings Inc reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.44. The company had revenue of $1019.00 million for the quarter, compared to analysts expectations of $1004.82 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.
LPL Financial Holdings Inc opened for trading at $30.43 and hit $30.52 on the upside on Thursday, eventually ending the session at $30.41, with a gain of 0.66% or 0.2 points. The heightened volatility saw the trading volume jump to 3,50,623 shares. Company has a market cap of $2,709 M.
In a different news, on Mar 8, 2016, Jeffrey R. Buchheister (EVP, Chief Accounting Officer) purchased 100 shares at $16.40 per share price. According to the SEC, on Mar 8, 2016, Dan H. Arnold (President) sold 1,208 shares at $21.27 per share price. On Mar 2, 2016, Viet D Dinh (director) purchased 4,844 shares at $20.42 per share price, according to the Form-4 filing with the securities and exchange commission.
LPL Financial Holdings Inc. is an independent 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 including financial advisors at around 700 financial institutions enabling them to provide their retail investors with objective financial advice. It also supports approximately 4400 financial advisors who are affiliated and licensed with insurance companies through customized clearing services advisory platforms and technology solutions. It provides its advisors with the front-office middle-office and back-office support. The Company provides its technology and service to advisors through a technology platform that is server-based and Web-accessible. Its subsidiaries include LPL Financial LLC The Private Trust Company N.A. Independent Advisers Group Corporation and LPL Insurance Associates Inc.