Hsbc Holdings PLC Sells 46,444 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Hsbc Holdings PLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,345 shares of the financial services provider's stock after selling 46,444 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of LPL Financial worth $36,406,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in LPL Financial in the 4th quarter valued at approximately $305,747,000. Raymond James Financial Inc. acquired a new position in shares of LPL Financial during the fourth quarter valued at $295,982,000. Boston Partners raised its stake 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 purchasing an additional 805,637 shares in the last quarter. Dodge & Cox lifted its holdings in LPL Financial by 2,922.0% in the fourth quarter. Dodge & Cox now owns 470,109 shares of the financial services provider's stock worth $153,495,000 after purchasing an additional 454,553 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new position in LPL Financial during the 4th quarter valued at about $136,440,000. Institutional investors own 95.66% of the company's stock.

Insider Activity

In related news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, JMP Securities decreased their target price on shares of LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Stock Up 1.6 %

Shares of LPLA stock traded up $5.11 on Thursday, hitting $324.90. The company's stock had a trading volume of 228,940 shares, compared to its average volume of 824,974. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The firm's fifty day moving average price is $323.96 and its 200-day moving average price is $324.98. 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 (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

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.