LPL Financial Holdings Inc. $LPLA Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 23.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,671 shares of the financial services provider’s stock after selling 1,699 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in LPL Financial were worth $1,734,000 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. BlackRock Inc. acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $1,333,189,000. Jupiter Topco LLC acquired a new position in shares of LPL Financial in the second quarter valued at approximately $1,182,595,000. Janus Henderson Group PLC lifted its stake in shares of LPL Financial by 8.6% during the first quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock valued at $1,103,079,000 after buying an additional 289,227 shares during the period. Principal Financial Group Inc. grew its stake in LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock worth $793,163,000 after acquiring an additional 702,061 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of LPL Financial by 0.8% during the first quarter. WCM Investment Management LLC now owns 1,734,395 shares of the financial services provider’s stock worth $520,631,000 after purchasing an additional 12,922 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on LPLA. Wells Fargo & Company initiated coverage on shares of LPL Financial in a report on Friday, October 2nd. They issued an “overweight” rating and a $362.00 target price for the company. Morgan Stanley increased their target price on shares of LPL Financial from $387.00 to $393.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $428.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Bank of America decreased their price target on shares of LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Barclays boosted their price objective on LPL Financial from $401.00 to $409.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $409.69.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $321.03 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The firm’s 50-day simple moving average is $339.32 and its 200-day simple moving average is $320.67. The firm has a market cap of $25.28 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director directly owned 6,107 shares in the company, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,867 shares of company stock worth $2,079,664. Insiders own 0.60% of the company’s stock.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.