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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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.’s holdings in LPL Financial were worth $18,197,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Tyler Stone Wealth Management increased its holdings in shares of LPL Financial by 3.7% in the fourth quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 38 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in LPL Financial in the 4th quarter worth approximately $327,000. Graney & King LLC purchased a new stake in shares of LPL Financial during the 4th quarter worth approximately $30,000. Potentia Wealth purchased a new stake in shares of LPL Financial during the 4th quarter worth approximately $515,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of LPL Financial during the 4th quarter valued at approximately $8,522,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $336.89 on Monday. The stock has a 50 day moving average price of $351.92 and a 200 day moving average price of $312.54. The firm has a market capitalization of $25.16 billion, a P/E ratio of 24.00, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04.

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%. As a group, sell-side analysts predict 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 was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LPLA shares. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st. UBS Group upped their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Barclays lifted their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by company insiders.

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.