NewEdge Advisors LLC Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

NewEdge Advisors LLC lessened its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,470 shares of the financial services provider's stock after selling 1,707 shares during the period. NewEdge Advisors LLC's holdings in LPL Financial were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds 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 valued at $1,125,000 after purchasing an additional 131 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of 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 valued at $2,249,000 after buying an additional 1,304 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of LPL Financial during the 3rd quarter worth approximately $182,000. Tidal Investments LLC lifted its stake in shares of LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider's stock worth $1,782,000 after buying an additional 3,809 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of LPL Financial by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after buying an additional 3,444 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by insiders.

LPL Financial Trading Down 1.8 %

Shares of LPLA stock traded down $5.64 during trading hours on Wednesday, hitting $313.68. 230,376 shares of the company's stock traded hands, compared to its average volume of 825,222. 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 Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The stock has a market cap of $24.89 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The stock's 50 day simple moving average is $325.00 and its 200 day simple moving average is $325.02.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LPLA shares. Citigroup cut their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. UBS Group upped their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. 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 report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped 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. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $369.83.

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.