Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,631 shares of the financial services provider’s stock after acquiring an additional 4,869 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of LPL Financial worth $18,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPLA. Graney & King LLC bought a new position in shares of LPL Financial during the fourth quarter valued at about $30,000. Jones Financial Companies Lllp lifted its stake in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc bought a new stake in LPL Financial in the fourth quarter valued at $59,000. Compass Financial Services Inc purchased a new position in LPL Financial during the 4th quarter valued at $65,000. Finally, R Squared Ltd bought a new position in LPL Financial in the 4th quarter worth $78,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPLA opened at $336.89 on Monday. The company has a market cap of $25.16 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 0.94 and a beta of 0.82. The business’s fifty day simple moving average is $351.92 and its two-hundred day simple moving average is $312.54. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial’s dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LPLA. Wells Fargo & Company raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. Finally, Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

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.