Voya Investment Management LLC Sells 4,565 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Voya Investment Management LLC lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F 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 quarter. Voya Investment Management LLC’s holdings in LPL Financial were worth $10,815,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LPLA. Boston Partners raised its position in LPL Financial by 26.0% in 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 buying an additional 805,637 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LPL Financial by 2.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider’s stock worth $868,757,000 after purchasing an additional 57,485 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock valued at $475,946,000 after buying an additional 23,111 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 worth $364,290,000 after buying an additional 405,341 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 business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities dropped 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 report on Tuesday, April 8th. Wells Fargo & Company cut their price objective 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. Morgan Stanley boosted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised their price target on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $369.83.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $315.43 on Tuesday. The company has a 50-day simple moving average of $326.20 and a two-hundred day simple moving average of $325.06. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS 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.