Castle Hook Partners LP Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Castle Hook Partners LP bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 76,135 shares of the financial services provider's stock, valued at approximately $24,859,000. Castle Hook Partners LP owned 0.10% of LPL Financial as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Boston Partners boosted its stake in shares of LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after acquiring an additional 805,637 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in LPL Financial by 2.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock valued at $868,757,000 after acquiring an additional 57,485 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after purchasing an additional 23,111 shares during the last quarter. JPMorgan Chase & Co. lifted its position in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of LPL Financial by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after acquiring an additional 405,341 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial 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 sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LPLA has been the topic of several recent analyst reports. JMP Securities decreased their target price 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. JPMorgan Chase & Co. increased their price objective on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price target on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Stock Up 0.1 %

Shares of NASDAQ:LPLA opened at $334.06 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $26.51 billion, a P/E ratio of 23.79, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The firm has a fifty day moving average price of $321.91 and a 200 day moving average price of $327.53.

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.

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