Alyeska Investment Group L.P. Acquires New Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Alyeska Investment Group L.P. bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 416,613 shares of the financial services provider's stock, valued at approximately $136,028,000. Alyeska Investment Group L.P. owned 0.56% of LPL Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. ArrowMark Colorado Holdings LLC lifted its position in shares of LPL Financial by 15.0% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 38,256 shares of the financial services provider's stock worth $12,491,000 after acquiring an additional 5,000 shares during the period. Solel Partners LP acquired a new position in shares of LPL Financial in the fourth quarter valued at $28,406,000. Itau Unibanco Holding S.A. bought a new position in LPL Financial in the fourth quarter worth $42,000. Palestra Capital Management LLC acquired a new stake in LPL Financial during the fourth quarter worth $107,189,000. Finally, Third Point LLC raised its stake in shares of LPL Financial by 35.1% in the 4th quarter. Third Point LLC now owns 655,000 shares of the financial services provider's stock valued at $213,864,000 after buying an additional 170,000 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group raised their price target on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Morgan Stanley increased their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Barclays dropped their target price on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Trading Down 0.9 %

Shares of NASDAQ LPLA traded down $2.94 during midday trading on Tuesday, hitting $331.12. The stock had a trading volume of 561,901 shares, compared to its average volume of 824,784. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The firm has a market cap of $26.27 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The company's 50-day simple moving average is $321.30 and its 200 day simple moving average is $327.55.

Insider Buying and Selling

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 over the last three months. 1.30% of the stock is currently owned by company insiders.

About LPL Financial

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.