1,699 LPL Financial Holdings Inc. $LPLA Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 23.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LPLA. BlackRock Inc. acquired a new stake in shares of LPL Financial in the second quarter worth $1,333,189,000. Jupiter Topco LLC purchased a new stake in LPL Financial during the second quarter worth $1,182,595,000. Janus Henderson Group PLC increased its holdings in LPL Financial by 8.6% in 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 in the last quarter. Principal Financial Group Inc. increased its holdings in LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after buying an additional 702,061 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of LPL Financial by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 1,734,395 shares of the financial services provider’s stock worth $520,631,000 after acquiring an additional 12,922 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the sale, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. The trade was a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,867 shares of company stock worth $2,079,664 in the last ninety days. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent analyst reports. Capital One Financial set a $370.00 price objective on LPL Financial in a research report on Tuesday, October 6th. Barclays increased their target price on LPL Financial from $401.00 to $409.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. TD Cowen increased their price objective on LPL Financial from $377.00 to $380.00 and gave the company a “hold” rating in a research note on Monday, October 12th. Bank of America lowered their price target on shares of LPL Financial from $557.00 to $554.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Finally, UBS Group reduced their price objective on LPL Financial from $391.00 to $390.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average target price of $409.69.

LPL Financial Stock Down 0.3%

LPL Financial stock opened at $321.03 on Thursday. The firm has a 50 day moving average price of $339.32 and a 200 day moving average price of $320.67. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The company has a market capitalization 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 posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.51 earnings per share. Research analysts expect that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current year.

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.