Third Point LLC Boosts Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Third Point LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 35.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 655,000 shares of the financial services provider’s stock after purchasing an additional 170,000 shares during the quarter. LPL Financial comprises about 2.9% of Third Point LLC’s holdings, making the stock its 13th biggest position. Third Point LLC’s holdings in LPL Financial were worth $213,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SkyView Investment Advisors LLC increased its stake in LPL Financial by 2.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 131 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in shares of LPL Financial by 15.6% in the third quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock worth $2,249,000 after buying an additional 1,304 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of LPL Financial during the third quarter worth $182,000. Tidal Investments LLC increased its holdings in LPL Financial by 98.9% in the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 3,809 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LPLA shares. Barclays reduced their target price on shares of LPL Financial from $414.00 to $365.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company cut their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley upped their price objective on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.83.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 over the last quarter. Insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 0.1 %

NASDAQ:LPLA opened at $319.79 on Thursday. 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 firm has a 50-day simple moving average of $323.96 and a 200-day simple moving average of $324.98. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The firm has a market cap of $25.37 billion, a P/E ratio of 22.78, a P/E/G ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) 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 analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal 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.