Solel Partners LP Invests $28.41 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Solel Partners LP acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 87,000 shares of the financial services provider's stock, valued at approximately $28,406,000. LPL Financial accounts for 5.6% of Solel Partners LP's investment portfolio, making the stock its 8th largest holding. Solel Partners LP owned approximately 0.12% of LPL Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. Graney & King LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $30,000. Itau Unibanco Holding S.A. purchased a new stake in shares of LPL Financial in the fourth quarter valued at $42,000. Jones Financial Companies Lllp boosted its position in shares of LPL Financial by 45.3% in the fourth 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 last quarter. Atala Financial Inc purchased a new stake in LPL Financial during the fourth quarter valued at about $59,000. Finally, Compass Financial Services Inc acquired a new stake in LPL Financial during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction 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. The trade was a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 over the last three months. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup dropped their target price on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective 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. JMP Securities cut their price target on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley lifted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Price Performance

NASDAQ:LPLA traded up $0.50 during mid-day trading on Monday, reaching $334.06. 362,849 shares of the stock were exchanged, compared to its average volume of 824,396. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The business has a fifty day moving average price of $321.91 and a 200 day moving average price of $327.53. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The firm has a market capitalization of $26.51 billion, a PE ratio of 23.79, a PEG ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Company 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.