LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 684 shares of the financial services provider’s stock after selling 70 shares during the quarter. Eagle Bay Advisors LLC’s holdings in LPL Financial were worth $159,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares during the period. Boston Partners grew its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the period. Samlyn Capital LLC grew its position in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares during the period. TD Asset Management Inc grew its position in shares of LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after purchasing an additional 275,286 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of LPL Financial by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after purchasing an additional 153,072 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPLA has been the topic of several research analyst reports. UBS Group lifted their target price on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Barclays lowered their price target on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Citigroup reduced their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial has an average rating of “Hold” and a consensus target price of $277.77.

LPL Financial Price Performance

LPLA stock traded up $0.59 during trading on Wednesday, hitting $256.67. The company had a trading volume of 138,992 shares, compared to its average volume of 734,057. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.32 and a beta of 0.88. The business has a 50 day moving average of $227.89 and a 200 day moving average of $248.08.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.94 earnings per share. As a group, research analysts predict that LPL Financial Holdings Inc. will post 15.79 earnings per share for the current year.

About LPL Financial

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.