Balyasny Asset Management LLC cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,751,015 shares of the financial services provider’s stock after selling 14,226 shares during the quarter. Balyasny Asset Management LLC owned approximately 1.95% of LPL Financial Holdings worth $74,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janus Capital Management LLC lifted its holdings in LPL Financial Holdings by 13.1% during the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after purchasing an additional 1,038,731 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LPL Financial Holdings by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock worth $372,778,000 after purchasing an additional 827,372 shares during the last quarter. BlackRock Inc. increased its position in shares of LPL Financial Holdings by 1.3% in the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock worth $151,098,000 after purchasing an additional 46,013 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of LPL Financial Holdings by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,456,934 shares of the financial services provider’s stock worth $61,860,000 after purchasing an additional 42,820 shares during the last quarter. Finally, State Street Corp increased its position in shares of LPL Financial Holdings by 2.9% in the first quarter. State Street Corp now owns 1,219,612 shares of the financial services provider’s stock worth $48,583,000 after purchasing an additional 34,875 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of LPL Financial Holdings Inc. (LPLA) traded up 0.25% during trading on Thursday, hitting $51.35. The stock had a trading volume of 144,070 shares. The company has a market cap of $4.62 billion, a P/E ratio of 22.31 and a beta of 1.84. LPL Financial Holdings Inc. has a 12 month low of $28.38 and a 12 month high of $51.46. The stock has a 50-day moving average price of $46.22 and a 200 day moving average price of $42.35.

LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Equities analysts expect that LPL Financial Holdings Inc. will post $2.40 EPS for the current fiscal year.

LPLA has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, June 6th. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Morgan Stanley reissued an “underweight” rating and set a $38.00 price objective (up previously from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. Finally, BidaskClub raised LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. LPL Financial Holdings has a consensus rating of “Hold” and a consensus price target of $48.20.

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LPL Financial Holdings Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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Institutional Ownership by Quarter for LPL Financial Holdings (NASDAQ:LPLA)

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