Iridian Asset Management LLC CT Acquires 36,212 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Iridian Asset Management LLC CT raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 77.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,834 shares of the financial services provider’s stock after acquiring an additional 36,212 shares during the period. LPL Financial comprises 4.1% of Iridian Asset Management LLC CT’s holdings, making the stock its 8th biggest holding. Iridian Asset Management LLC CT’s holdings in LPL Financial were worth $19,270,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LPLA. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after acquiring an additional 233,242 shares during the last quarter. Boston Partners raised its position in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares during the last quarter. Samlyn Capital LLC boosted its stake in shares of LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after purchasing an additional 275,286 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of LPL Financial by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after purchasing an additional 153,072 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $264.02 on Thursday. The firm has a market cap of $19.74 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $289.88. The business’s 50 day moving average price is $232.16 and its two-hundred day moving average price is $248.13. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. TD Cowen lifted their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Jefferies Financial Group cut their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $277.77.

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.