The Manufacturers Life Insurance Company Decreases Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

The Manufacturers Life Insurance Company reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 55.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,614 shares of the financial services provider's stock after selling 311,788 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.33% of LPL Financial worth $80,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Graney & King LLC bought a new position in LPL Financial during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its position 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 valued at $45,000 after acquiring an additional 43 shares during the last quarter. Atala Financial Inc bought a new position in shares of LPL Financial during the 4th quarter valued at approximately $59,000. Compass Financial Services Inc bought a new stake in LPL Financial in the fourth quarter worth $65,000. Finally, Quarry LP increased its position in LPL Financial by 275.0% in the fourth quarter. Quarry LP now owns 210 shares of the financial services provider's stock worth $69,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Insider Activity

In other news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction 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 trade 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 this link. Also, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares of the company's stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,465 shares of company stock worth $12,562,070. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on LPLA shares. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. UBS Group upped their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Finally, Barclays decreased their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.83.

LPL Financial Trading Up 2.9 %

Shares of LPL Financial stock traded up $9.53 on Friday, hitting $333.56. 613,454 shares of the company traded hands, compared to its average volume of 824,868. 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 company has a market cap of $26.47 billion, a PE ratio of 23.76, a PEG ratio of 0.94 and a beta of 0.64. The stock's 50 day moving average price is $322.48 and its 200-day moving average price is $326.05. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04.

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

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.