New York State Common Retirement Fund Cuts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

New York State Common Retirement Fund lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,256 shares of the financial services provider’s stock after selling 14,276 shares during the quarter. New York State Common Retirement Fund’s holdings in LPL Financial were worth $13,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LPLA. Commonwealth Equity Services LLC boosted its holdings in shares of LPL Financial by 18.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 489 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in LPL Financial by 191.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 9,715 shares of the financial services provider’s stock worth $2,309,000 after buying an additional 6,382 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in LPL Financial in the third quarter worth approximately $206,000. Aquila Investment Management LLC boosted its stake in LPL Financial by 33.3% in the third quarter. Aquila Investment Management LLC now owns 8,000 shares of the financial services provider’s stock worth $1,901,000 after buying an additional 2,000 shares in the last quarter. Finally, Foresight Global Investors Inc. grew its position in LPL Financial by 143.9% during the third quarter. Foresight Global Investors Inc. now owns 7,220 shares of the financial services provider’s stock valued at $1,716,000 after acquiring an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LPLA shares. TD Cowen boosted their price objective on shares of LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Barclays boosted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. UBS Group upped their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. JMP Securities lifted their price objective on LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, Raymond James began coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.00.

LPL Financial Stock Up 2.8 %

Shares of NASDAQ:LPLA opened at $273.91 on Tuesday. The stock’s 50-day moving average is $264.17 and its 200 day moving average is $242.25. The company has a market cap of $20.46 billion, a PE ratio of 20.07, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. LPL Financial Holdings Inc. has a 1 year low of $179.00 and a 1 year high of $274.35.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $4.21 EPS. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

Insider Activity at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $3,641,462.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $3,641,462.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock worth $15,911,088 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.