Price T Rowe Associates Inc. MD Has $85.96 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Price T Rowe Associates Inc. MD decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 57.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 263,268 shares of the financial services provider’s stock after selling 352,717 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in LPL Financial were worth $85,961,000 at the end of the most recent reporting period.

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

LPL Financial Price Performance

LPL Financial stock opened at $314.54 on Monday. The firm has a market cap of $24.96 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 stock’s fifty day moving average price is $327.56 and its two-hundred day moving average price is $324.58. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04.

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

Insider Activity at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents 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 available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s 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 transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. JMP Securities reduced their target price on shares of LPL Financial from $435.00 to $420.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price target 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. StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.83.

LPL Financial 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.