Price T Rowe Associates Inc. MD Sells 352,717 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 57.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,268 shares of the financial services provider's stock after selling 352,717 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.35% of LPL Financial worth $85,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SkyView Investment Advisors LLC raised its stake in shares of LPL Financial by 2.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider's stock worth $1,125,000 after purchasing an additional 131 shares during the period. Anchor Investment Management LLC increased its position in LPL Financial by 15.6% in the third quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider's stock worth $2,249,000 after buying an additional 1,304 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of LPL Financial during the 3rd quarter worth $182,000. Tidal Investments LLC increased its holdings in LPL Financial by 98.9% in the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider's stock worth $1,782,000 after acquiring an additional 3,809 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after acquiring an additional 3,444 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 1.3 %

Shares of LPL Financial stock traded up $4.24 during trading on Thursday, reaching $324.03. The company's stock had a trading volume of 675,872 shares, compared to its average volume of 826,661. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 0.94 and a beta of 0.64. The firm's 50-day moving average is $323.96 and its two-hundred day moving average is $324.98. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price target 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 reduced their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays decreased their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, JMP Securities cut their price objective on shares of 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 analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has an average rating of "Moderate Buy" and a consensus target price of $369.83.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction 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 owns 13,663 shares of the company's stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock was 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 directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade 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 in the last ninety days. 1.30% of the stock is owned by insiders.

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.