Voya Investment Management LLC Cuts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Voya Investment Management LLC lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 12.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,122 shares of the financial services provider's stock after selling 4,565 shares during the period. Voya Investment Management LLC's holdings in LPL Financial were worth $10,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LPLA. Boston Partners raised its stake in LPL Financial by 26.0% during the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after purchasing an additional 805,637 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of LPL Financial by 2.2% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock valued at $868,757,000 after buying an additional 57,485 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $475,946,000 after buying an additional 23,111 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 276,166 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 57.1% during 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 acquiring an additional 405,341 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Up 2.9 %

Shares of NASDAQ:LPLA traded up $9.53 during trading hours on Friday, hitting $333.56. 613,454 shares of the company's stock traded hands, compared to its average volume of 826,249. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The business has a fifty day moving average price of $322.48 and a 200-day moving average price of $327.00. 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 $26.47 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

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

Insider Activity at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the 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 directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on LPLA. Citigroup dropped their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Morgan Stanley upped their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and an average price target of $369.83.

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.