Northern Trust Corp Has $160.36 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Northern Trust Corp boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 491,145 shares of the financial services provider's stock after purchasing an additional 61,551 shares during the quarter. Northern Trust Corp owned about 0.66% of LPL Financial worth $160,364,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Boston Partners raised its holdings in LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in LPL Financial by 2.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after purchasing an additional 57,485 shares during the period. Geode Capital Management LLC raised its position in LPL Financial by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock valued at $475,946,000 after purchasing an additional 23,111 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of LPL Financial by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock valued at $364,290,000 after buying an additional 405,341 shares in the last quarter. Institutional investors and hedge funds 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 company'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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of 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. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. JPMorgan Chase & Co. upped their price target on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Barclays cut their price objective 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. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. UBS Group raised their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their target price 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. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Stock Performance

LPLA stock traded up $0.91 during mid-day trading on Wednesday, reaching $332.03. The company had a trading volume of 248,370 shares, compared to its average volume of 822,577. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year 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. The stock has a market capitalization of $26.35 billion, a P/E ratio of 23.71, a P/E/G ratio of 0.94 and a beta of 0.65. The stock's 50-day simple moving average is $321.30 and its two-hundred day simple moving average is $327.55.

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.