Tower Research Capital LLC TRC Sells 4,421 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tower Research Capital LLC TRC reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,606 shares of the financial services provider's stock after selling 4,421 shares during the period. Tower Research Capital LLC TRC's holdings in LPL Financial were worth $524,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Graney & King LLC acquired a new stake in LPL Financial in the fourth quarter valued at $30,000. Jones Financial Companies Lllp lifted its position in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc bought a new stake in LPL Financial in the fourth quarter valued at about $59,000. Compass Financial Services Inc acquired a new stake in LPL Financial during the fourth quarter valued at approximately $65,000. Finally, R Squared Ltd bought a new position in LPL Financial during the 4th quarter worth approximately $78,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction 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 of the company's stock, valued at $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 SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction dated 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 $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LPLA has been the topic of several research analyst reports. Morgan Stanley raised their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Barclays lowered their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $369.83.

LPL Financial Price Performance

LPLA traded up $4.24 on Thursday, reaching $324.03. The company had a trading volume of 675,872 shares, compared to its average volume of 824,662. The company has a fifty day moving average of $322.95 and a 200-day moving average of $325.49. 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 capitalization of $25.71 billion, a P/E ratio of 23.08, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year 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 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current 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.