Shell Asset Management Co. Sells 1,535 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Shell Asset Management Co. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 45.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,857 shares of the financial services provider’s stock after selling 1,535 shares during the period. Shell Asset Management Co.’s holdings in LPL Financial were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of LPL Financial in the fourth quarter valued at about $200,497,000. TD Asset Management Inc increased its position in shares of LPL Financial by 286.0% in the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after acquiring an additional 613,792 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of LPL Financial by 89.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock valued at $176,245,000 after acquiring an additional 364,597 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of LPL Financial by 12,785.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after acquiring an additional 232,704 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in shares of LPL Financial by 159.5% in the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock valued at $78,779,000 after acquiring an additional 183,290 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent research reports. Barclays lowered their target price on LPL Financial from $319.00 to $313.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Raymond James started coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. TD Cowen upped their price target on shares of LPL Financial from $271.00 to $279.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $287.91.

LPL Financial Stock Down 2.4 %

Shares of LPLA stock traded down $5.68 on Friday, reaching $233.52. 805,189 shares of the company were exchanged, compared to its average volume of 659,466. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.90 and a beta of 0.90. The company has a 50-day moving average of $269.35 and a 200-day moving average of $261.76. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. LPL Financial Holdings Inc. has a one year low of $200.18 and a one year high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.94 EPS. Analysts anticipate that LPL Financial Holdings Inc. will post 15.76 earnings per share for the current year.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

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.