LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Azora Capital LP

Azora Capital LP reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,185 shares of the financial services provider's stock after selling 227,359 shares during the period. LPL Financial makes up approximately 6.1% of Azora Capital LP's holdings, making the stock its 2nd largest holding. Azora Capital LP owned approximately 0.56% of LPL Financial worth $135,889,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. lifted its position in LPL Financial by 8.9% during the fourth quarter. Baird Financial Group Inc. now owns 8,438 shares of the financial services provider's stock valued at $2,755,000 after buying an additional 693 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of LPL Financial during the 4th quarter valued at $153,946,000. Bamco Inc. NY boosted its position in LPL Financial by 82.9% during the 4th quarter. Bamco Inc. NY now owns 119,704 shares of the financial services provider's stock worth $39,085,000 after purchasing an additional 54,256 shares during the period. Benjamin Edwards Inc. acquired a new stake in LPL Financial in the 4th quarter valued at $250,000. Finally, Ameriprise Financial Inc. raised its position in LPL Financial by 51.7% in the fourth quarter. Ameriprise Financial Inc. now owns 378,261 shares of the financial services provider's stock valued at $123,506,000 after purchasing an additional 128,932 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity

In other LPL Financial news, 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 value of $402,435.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the 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 completion of the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LPLA. StockNews.com downgraded LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Morgan Stanley upped their price target on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Citigroup dropped their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Barclays lowered their price target on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded up $3.44 during trading on Wednesday, reaching $334.56. 429,924 shares of the company's stock traded hands, compared to its average volume of 824,176. The stock has a market capitalization of $26.55 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a 50 day moving average of $320.56 and a 200-day moving average of $327.60. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

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.