Pinebridge Investments L.P. Makes New Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Pinebridge Investments L.P. acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,451 shares of the financial services provider's stock, valued at approximately $7,004,000.

A number of other large investors have also recently added to or reduced their stakes in LPLA. Graney & King LLC acquired a new position in shares of LPL Financial during the 4th quarter worth about $30,000. Jones Financial Companies Lllp boosted its stake in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $59,000. Compass Financial Services Inc bought a new stake in LPL Financial in the 4th quarter valued at $65,000. Finally, R Squared Ltd acquired a new stake in LPL Financial during the 4th quarter valued at $78,000. Institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LPLA. UBS Group increased their target price on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Barclays lowered their price target on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Citigroup lowered their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $369.83.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company's stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock traded down $3.75 during mid-day trading on Wednesday, hitting $315.57. 117,179 shares of the stock were exchanged, compared to its average volume of 824,714. The company has a market capitalization of $25.04 billion, a P/E ratio of 22.48, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a 50-day simple moving average of $325.00 and a 200 day simple moving average of $325.02. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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 net margin of 8.55% and a return on equity of 49.41%. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal 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.