Barrow Hanley Mewhinney & Strauss Reduces $48M in LPL Financial Holdings Inc. ($LPLA)
Key Points
- Barrow Hanley Mewhinney & Strauss changed its LPL Financial Holdings Inc. ($LPLA) stake by 13.3% last quarter, cutting to 1,093,406 shares worth $312.10 million.
- Wall Street's consensus rating on $LPLA is Buy and an average price target of $416.50.
- $LPLA last traded around $285.44.
Barrow Hanley Mewhinney & Strauss reduced its position in LPL Financial Holdings Inc. ($LPLA) by 13.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,093,406 shares of LPL Financial Holdings Inc. after selling 167,879 shares during the quarter. Barrow Hanley Mewhinney & Strauss's holdings in LPL Financial Holdings Inc. were worth $312.10 million as of its most recent filing.
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About LPL Financial Holdings Inc.
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 institutions in the United States. The company's brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance; and client cash programs consist of Federal Deposit Insurance Corporation (FDIC) insured bank sweep vehicles, and a client cash and money market account. It also provides fee-based platforms that provide access to mutual funds, exchange traded funds, stocks, bonds, certain options strategies, unit investment trusts, institutional money managers, and no-load multi-manager variable annuities. In addition, the company offers retirement solutions for commission and fee-based services that allow advisors to provide brokerage services, consultation, and advice to retirement plan sponsors. Further, it provides other services comprising tools and services that enable advisors to maintain and grow their practices; trust, investment management oversight, and custodial services for estates and families; an advisor-facing trading and portfolio rebalancing platform; insurance brokerage general agency services; and technology products, including proposal generation, investment analytics, and portfolio modeling. The company was formerly known as LPL Investment Holdings Inc. and changed its name to LPL Financial Holdings Inc. in June 2012. LPL Financial Holdings Inc. was founded in 1989 and is based in San Diego, California.
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