LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Holdings Boosted by MML Investors Services LLC

MML Investors Services LLC grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,916 shares of the financial services provider's stock after acquiring an additional 1,727 shares during the period. MML Investors Services LLC's holdings in LPL Financial were worth $5,523,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Anchor Investment Management LLC boosted its position in LPL Financial by 0.3% in the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after buying an additional 28 shares during the period. Wealth Alliance increased its holdings in shares of LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after purchasing an additional 30 shares during the period. United Capital Financial Advisors LLC lifted its position in LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after purchasing an additional 31 shares during the period. Sanchez Wealth Management Group boosted its position in shares of LPL Financial by 2.1% during the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after purchasing an additional 35 shares in the last quarter. Finally, Mather Group LLC. increased its stake in LPL Financial by 4.1% in the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock valued at $299,000 after purchasing an additional 36 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the business'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 transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LPLA. Barclays reduced their target price on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley raised 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. Keefe, Bruyette & Woods raised their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted 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. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Stock Down 1.5 %

NASDAQ:LPLA traded down $4.65 on Wednesday, reaching $314.67. The stock had a trading volume of 89,979 shares, compared to its average volume of 891,764. The company has a current ratio of 2.16, a quick 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 company has a 50-day moving average of $325.00 and a 200 day moving average of $325.02. The stock has a market cap of $24.97 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 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, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial 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.