LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,398 shares of the financial services provider’s stock after selling 1,841 shares during the period. Janney Montgomery Scott LLC’s holdings in LPL Financial were worth $11,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. FMR LLC lifted its stake in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares during the period. JPMorgan Chase & Co. lifted 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 purchasing an additional 276,166 shares during the period. Southpoint Capital Advisors LP raised its position in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Maverick Capital Ltd. raised its position in LPL Financial by 82.0% during the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock worth $115,635,000 after acquiring an additional 223,931 shares during the last quarter. Finally, Azora Capital LP raised its position in LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after acquiring an additional 220,622 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price for the company in a report on Monday, January 6th. Barclays boosted their target price on shares of LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $351.50.

LPL Financial Price Performance

LPLA opened at $360.29 on Monday. 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 Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $361.63. The company has a 50 day moving average of $331.55 and a two-hundred day moving average of $270.57. The company has a market cap of $26.98 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.09 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.74 earnings per share. On average, analysts expect that LPL Financial Holdings Inc. will post 16.17 earnings per share for the current year.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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.