Envestnet Asset Management Inc. Boosts Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Envestnet Asset Management Inc. lifted its stake in Lakeland Financial Co. (NASDAQ:LKFNGet Rating) by 66.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,876 shares of the financial services provider’s stock after purchasing an additional 43,515 shares during the period. Envestnet Asset Management Inc. owned about 0.43% of Lakeland Financial worth $7,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LKFN. Nisa Investment Advisors LLC raised its position in Lakeland Financial by 70.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 484 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Lakeland Financial by 2,390.2% in the second quarter. First Horizon Advisors Inc. now owns 1,519 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,458 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Lakeland Financial by 7.9% in the second quarter. Victory Capital Management Inc. now owns 909,906 shares of the financial services provider’s stock worth $60,436,000 after acquiring an additional 66,240 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Lakeland Financial by 3.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 38,686 shares of the financial services provider’s stock worth $2,570,000 after acquiring an additional 1,422 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Lakeland Financial in the 2nd quarter valued at approximately $4,845,000. 81.26% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Trading Down 0.3 %

LKFN stock opened at $79.95 on Thursday. The stock has a market cap of $2.03 billion, a P/E ratio of 20.09 and a beta of 0.78. Lakeland Financial Co. has a twelve month low of $64.05 and a twelve month high of $85.71. The company’s 50 day moving average is $77.19 and its two-hundred day moving average is $73.72.

Lakeland Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were paid a $0.40 dividend. The ex-dividend date was Monday, October 24th. This represents a $1.60 annualized dividend and a yield of 2.00%. Lakeland Financial’s dividend payout ratio is presently 40.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LKFN shares. Stephens boosted their target price on shares of Lakeland Financial to $80.00 in a research note on Tuesday, August 23rd. StockNews.com assumed coverage on Lakeland Financial in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Insiders Place Their Bets

In other news, CAO Brok A. Lahrman sold 312 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.03, for a total value of $25,593.36. Following the completion of the sale, the chief accounting officer now directly owns 588 shares of the company’s stock, valued at approximately $48,233.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lakeland Financial news, Director Blake Augsburger sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $82.31, for a total transaction of $329,240.00. Following the transaction, the director now directly owns 14,313 shares of the company’s stock, valued at approximately $1,178,103.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brok A. Lahrman sold 312 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.03, for a total transaction of $25,593.36. Following the sale, the chief accounting officer now owns 588 shares of the company’s stock, valued at approximately $48,233.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,932 shares of company stock valued at $4,373,483. 4.00% of the stock is currently owned by insiders.

Lakeland Financial Profile

(Get Rating)

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

Further Reading

Want to see what other hedge funds are holding LKFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Financial Co. (NASDAQ:LKFNGet Rating).

Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

Receive News & Ratings for Lakeland Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial and related companies with MarketBeat.com's FREE daily email newsletter.