HMI Capital Management L.P. Has $131.01 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

HMI Capital Management L.P. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 42.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 401,243 shares of the financial services provider's stock after selling 291,300 shares during the period. LPL Financial comprises about 6.6% of HMI Capital Management L.P.'s investment portfolio, making the stock its 8th biggest holding. HMI Capital Management L.P. owned approximately 0.54% of LPL Financial worth $131,010,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LPLA. SkyView Investment Advisors LLC grew its stake in LPL Financial by 2.8% in the third 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 in the last quarter. Anchor Investment Management LLC lifted its holdings 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 acquiring an additional 1,304 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in LPL Financial in the third quarter worth about $182,000. Tidal Investments LLC lifted its holdings in LPL Financial by 98.9% in the third 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. lifted its holdings in LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after acquiring an additional 3,444 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Down 1.3 %

LPLA stock traded down $4.24 during mid-day trading on Wednesday, hitting $315.08. The stock had a trading volume of 148,934 shares, compared to its average volume of 824,869. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.94 and a beta of 0.64. The company has a fifty day moving average of $325.00 and a 200 day moving average of $325.02. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 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, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Morgan Stanley lifted their price target on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted 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. Finally, Citigroup dropped their target price on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $369.83.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction that occurred 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 transaction, 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 have sold 34,465 shares of company stock valued at $12,562,070 in the last 90 days. 1.30% of the stock is currently owned by insiders.

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.