Allspring Global Investments Holdings LLC Cuts Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Allspring Global Investments Holdings LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 97.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,740 shares of the financial services provider’s stock after selling 220,431 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LPL Financial were worth $1,568,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC raised its position in LPL Financial by 38.8% in the first quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock valued at $11,057,000 after purchasing an additional 11,703 shares during the period. Acadian Asset Management LLC lifted its position in LPL Financial by 533.8% during the 1st 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 acquired a new position in LPL Financial during the 1st quarter worth approximately $3,648,000. Sei Investments Co. lifted 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 acquiring an additional 21,481 shares in the last quarter. Finally, Raymond James & Associates grew its position in LPL Financial by 5.4% in the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after acquiring an additional 20,123 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.6 %

Shares of LPLA opened at $264.02 on Thursday. 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 stock has a market cap of $19.72 billion, a PE ratio of 19.94, a PEG ratio of 1.38 and a beta of 0.88. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The stock has a 50 day simple moving average of $232.16 and a 200-day simple moving average of $248.13.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Morgan Stanley increased their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. TD Cowen raised their price objective on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Citigroup decreased their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $277.77.

LPL Financial 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.