Morgan Stanley Initiates Coverage on LPL Financial Holdings Inc to Underweight

Morgan Stanley Initiates Coverage on LPL Financial Holdings Inc(NASDAQ:LPLA). The shares have been rated Underweight. The rating by Morgan Stanley was issued on Sep 26, 2016.

In a different note, On Aug 22, 2016, Credit Suisse said it Downgrades its rating on LPL Financial Holdings Inc. The shares have been rated ‘Neutral’ by the firm. On Jul 29, 2016, Keefe Bruyette & Woods said it Maintains its rating on LPL Financial Holdings Inc. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Jul 29, 2016, Nomura said it Maintains its rating on LPL Financial Holdings Inc. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Nomura said it Maintains its rating on LPL Financial Holdings Inc. In the research note, the firm Lowers the price-target to $28.00 per share. The shares have been rated ‘Neutral’ by the firm.

LPL Financial Holdings Inc (LPLA) made into the market gainers list on Thursdays trading session with the shares advancing 0.66% or 0.2 points. Due to strong positive momentum, the stock ended at $30.41, which is also near the day’s high of $30.52. The stock began the session at $30.43 and the volume stood at 3,50,623 shares. The 52-week high of the shares is $48 and the 52 week low is $15.3825. The company has a current market capitalization of $2,709 M and it has 8,90,71,546 shares in outstanding.

LPL Financial Holdings Inc(LPLA) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.02B. Analysts had an estimated revenue of $1.00B. Earnings per share were $0.53. Analysts had estimated an EPS of $0.44.

Several Insider Transactions has been reported to the SEC. On Mar 8, 2016, Jeffrey R. Buchheister (EVP, Chief Accounting Officer) purchased 100 shares at $16.40 per share price.Also, 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.

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