Mirae Asset Global Investments Co. Ltd. Sells 118 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,676 shares of the financial services provider’s stock after selling 118 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LPL Financial were worth $2,430,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in LPL Financial by 218,199.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 95,191,655 shares of the financial services provider’s stock valued at $20,577,580,000 after buying an additional 95,148,049 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of LPL Financial by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 7,011,365 shares of the financial services provider’s stock worth $1,280,836,000 after acquiring an additional 93,283 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of LPL Financial by 4.0% during the 1st quarter. BlackRock Inc. now owns 6,542,756 shares of the financial services provider’s stock worth $1,324,254,000 after acquiring an additional 250,448 shares during the last quarter. Wellington Management Group LLP lifted its stake in LPL Financial by 7.5% in the first quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock worth $652,923,000 after purchasing an additional 248,255 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in LPL Financial by 3.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock worth $509,945,000 after purchasing an additional 79,869 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. TD Cowen boosted their price target on shares of LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group boosted their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Raymond James initiated coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $268.36.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Dan H. Arnold sold 7,089 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.66, for a total value of $1,883,263.74. Following the transaction, the chief executive officer now owns 133,169 shares in the company, valued at $35,377,676.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,151 shares of company stock worth $15,911,088. Corporate insiders own 1.00% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $259.77 on Friday. The stock has a market cap of $19.41 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial Holdings Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $274.35. The firm’s 50-day simple moving average is $262.60 and its two-hundred day simple moving average is $240.60.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.21 earnings per share. Analysts anticipate that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a $0.30 dividend. The ex-dividend date was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. LPL Financial’s dividend payout ratio is presently 8.79%.

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.