Mn Services Vermogensbeheer B.V. Buys 700 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mn Services Vermogensbeheer B.V. grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,800 shares of the financial services provider’s stock after purchasing an additional 700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in LPL Financial were worth $9,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LPLA. DekaBank Deutsche Girozentrale raised its position in shares of LPL Financial by 1.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,718 shares of the financial services provider’s stock valued at $2,004,000 after buying an additional 131 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of LPL Financial by 96.8% during the third quarter. New York State Teachers Retirement System now owns 3,371 shares of the financial services provider’s stock valued at $784,000 after buying an additional 1,658 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of LPL Financial during the third quarter valued at approximately $205,000. Stephens Inc. AR raised its position in shares of LPL Financial by 5.2% during the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock valued at $245,000 after buying an additional 52 shares during the last quarter. Finally, F M Investments LLC bought a new stake in LPL Financial in the third quarter worth $2,063,000. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,770 shares of company stock valued at $12,663,312. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LPLA. Citigroup boosted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Keefe, Bruyette & Woods boosted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target 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, Morgan Stanley boosted their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Stock Up 2.8 %

Shares of LPLA opened at $371.74 on Friday. The firm has a market capitalization of $27.72 billion, a P/E ratio of 26.48, a P/E/G ratio of 0.94 and a beta of 0.87. 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. The firm has a fifty day moving average price of $351.92 and a 200-day moving average price of $294.33.

LPL Financial (NASDAQ:LPLA) last issued its 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 net margin of 8.55% and a return on equity of 49.41%. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 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.