Gilder Gagnon Howe & Co. LLC Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gilder Gagnon Howe & Co. LLC reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 276,341 shares of the financial services provider's stock after selling 5,338 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 0.37% of LPL Financial worth $90,228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in LPL Financial in the 4th quarter worth about $305,747,000. Raymond James Financial Inc. purchased a new position in shares of LPL Financial in the 4th quarter worth approximately $295,982,000. Boston Partners increased its position in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after acquiring an additional 805,637 shares during the last quarter. Dodge & Cox lifted its holdings in LPL Financial by 2,922.0% during the fourth quarter. Dodge & Cox now owns 470,109 shares of the financial services provider's stock worth $153,495,000 after acquiring an additional 454,553 shares during the period. Finally, Artisan Partners Limited Partnership bought a new stake in LPL Financial during the fourth quarter worth $136,440,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 2.7 %

LPLA stock traded up $8.54 on Thursday, reaching $328.33. The company's stock had a trading volume of 272,310 shares, compared to its average volume of 825,098. The firm has a market cap of $26.05 billion, a PE ratio of 23.34, a PEG ratio of 0.94 and a beta of 0.64. The business has a fifty day simple moving average of $323.96 and a two-hundred day simple moving average of $324.98. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated 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 directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. 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. Citigroup dropped their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, JMP Securities decreased their target price on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Company Profile

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.