Shell Asset Management Co. Sells 1,535 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Shell Asset Management Co. lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 45.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,857 shares of the financial services provider’s stock after selling 1,535 shares during the quarter. Shell Asset Management Co.’s holdings in LPL Financial were worth $491,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC grew its position in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after purchasing an additional 11,703 shares during the last quarter. Mawer Investment Management Ltd. purchased a new stake in LPL Financial during the 4th quarter worth approximately $3,375,000. Sei Investments Co. grew its position in LPL Financial by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock worth $29,923,000 after purchasing an additional 21,481 shares during the last quarter. Asset Management One Co. Ltd. grew its position in LPL Financial by 15.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after purchasing an additional 4,686 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in LPL Financial by 228.6% during the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after purchasing an additional 38,839 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the topic of several recent research reports. Barclays dropped their price objective on shares of LPL Financial from $319.00 to $313.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. UBS Group upped their price objective on shares of LPL Financial from $285.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group upped their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Hold” and a consensus target price of $287.91.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

LPL Financial Trading Down 2.4 %

LPLA stock traded down $5.68 during mid-day trading on Friday, hitting $233.52. 805,189 shares of the company were exchanged, compared to its average volume of 659,466. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $17.45 billion, a P/E ratio of 17.38, a PEG ratio of 0.90 and a beta of 0.90. The business has a fifty day simple moving average of $269.35 and a 200-day simple moving average of $261.76. LPL Financial Holdings Inc. has a 12-month low of $200.18 and a 12-month high of $289.88.

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 the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.94 earnings per share. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 15.76 earnings per share for the current fiscal year.

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.