Mirae Asset Global Investments Co. Ltd. Acquires 316 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,233 shares of the financial services provider’s stock after purchasing an additional 316 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LPL Financial were worth $2,692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares during the last quarter. Geode Capital Management LLC boosted its stake in LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after acquiring an additional 36,474 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares during the period. Southpoint Capital Advisors LP increased its stake in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of LPL Financial by 21.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock worth $165,369,000 after purchasing an additional 126,266 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. UBS Group lifted their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley upped their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

NASDAQ:LPLA opened at $369.14 on Monday. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $375.84. The stock has a fifty day moving average of $339.73 and a 200 day moving average of $279.61. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is 8.55%.

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.