Iridian Asset Management LLC CT Has $19.27 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Iridian Asset Management LLC CT lifted 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 institutional investor owned 82,834 shares of the financial services provider’s stock after purchasing an additional 36,212 shares during the quarter. LPL Financial accounts for approximately 4.1% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 8th biggest holding. Iridian Asset Management LLC CT owned 0.11% of LPL Financial worth $19,270,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its position in LPL Financial by 96.8% during the third quarter. New York State Teachers Retirement System now owns 3,371 shares of the financial services provider’s stock valued at $784,000 after purchasing an additional 1,658 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of LPL Financial by 1.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,718 shares of the financial services provider’s stock worth $2,004,000 after purchasing an additional 131 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $266,000. Forsta AP Fonden boosted its holdings in shares of LPL Financial by 2.0% in the 3rd quarter. Forsta AP Fonden now owns 15,600 shares of the financial services provider’s stock valued at $3,629,000 after buying an additional 300 shares during the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in shares of LPL Financial by 14.0% in the third quarter. Mediolanum International Funds Ltd now owns 28,548 shares of the financial services provider’s stock valued at $6,580,000 after buying an additional 3,496 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen upped their price target 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. Barclays cut their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, UBS Group boosted their target price on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $277.77.

LPL Financial Stock Performance

NASDAQ LPLA opened at $264.02 on Thursday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The firm has a 50-day moving average price of $232.16 and a two-hundred day moving average price of $248.13. The company has a market capitalization of $19.74 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.38 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

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.