Forsta AP Fonden Raises Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Forsta AP Fonden increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 15,600 shares of the financial services provider’s stock after purchasing an additional 300 shares during the quarter. Forsta AP Fonden’s holdings in LPL Financial were worth $3,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LPLA. Intech Investment Management LLC raised its position in shares of 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 valued at $11,057,000 after buying an additional 11,703 shares in the last quarter. Acadian Asset Management LLC grew its position in LPL Financial by 533.8% in the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares in the last quarter. Swedbank AB bought a new position in LPL Financial in the first quarter valued at $3,648,000. Sei Investments Co. raised its position in LPL Financial by 23.4% during the first quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock valued at $29,923,000 after purchasing an additional 21,481 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in LPL Financial by 5.4% during the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after purchasing an additional 20,123 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Up 0.5 %

NASDAQ LPLA opened at $265.63 on Wednesday. The business’s 50-day moving average is $231.24 and its 200 day moving average is $248.10. The stock has a market capitalization of $19.84 billion, a PE ratio of 20.06, a PEG ratio of 1.38 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup reduced their price objective on LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $277.77.

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.