471,488 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 471,488 shares of the financial services provider's stock, valued at approximately $153,946,000. Balyasny Asset Management L.P. owned about 0.63% of LPL Financial at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY raised its stake in LPL Financial by 82.9% in the fourth quarter. Bamco Inc. NY now owns 119,704 shares of the financial services provider's stock valued at $39,085,000 after buying an additional 54,256 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in LPL Financial during the 4th quarter valued at approximately $250,000. Ameriprise Financial Inc. raised its holdings in shares of LPL Financial by 51.7% in the fourth quarter. Ameriprise Financial Inc. now owns 378,261 shares of the financial services provider's stock worth $123,506,000 after buying an additional 128,932 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of LPL Financial during the fourth quarter worth $136,028,000. Finally, ArrowMark Colorado Holdings LLC lifted its position in LPL Financial by 15.0% during 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. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of NASDAQ:LPLA traded up $3.44 during midday trading on Wednesday, hitting $334.56. The company's stock had a trading volume of 429,924 shares, compared to its average volume of 824,176. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a market cap of $26.55 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business's 50 day simple moving average is $320.56 and its 200 day simple moving average is $327.60.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JMP Securities cut their price target on shares of LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley upped their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price target on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $369.83.

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.