LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,676 shares of the financial services provider’s stock after selling 118 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in LPL Financial were worth $2,430,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in LPL Financial during the fourth quarter worth about $26,838,000. Asset Management One Co. Ltd. increased its position in LPL Financial by 15.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after purchasing an additional 4,686 shares during the last quarter. Venturi Wealth Management LLC increased its position in LPL Financial by 0.4% during the fourth quarter. Venturi Wealth Management LLC now owns 42,414 shares of the financial services provider’s stock worth $9,654,000 after purchasing an additional 183 shares during the last quarter. Integrated Investment Consultants LLC increased its position in LPL Financial by 26.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 1,199 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in LPL Financial by 21.4% during the fourth quarter. State of Michigan Retirement System now owns 1,700 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 300 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares in the company, valued at $2,218,419.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares in the company, valued at $2,218,419.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial 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 of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,151 shares of company stock valued at $15,911,088. 1.00% of the stock is currently owned by company insiders.

LPL Financial Trading Up 0.3 %

NASDAQ LPLA opened at $259.77 on Friday. The firm has a 50 day simple moving average of $262.60 and a 200-day simple moving average of $240.60. 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 one year low of $179.00 and a one year high of $274.35. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.26 and a beta of 0.84.

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

LPL Financial Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on LPLA shares. Raymond James started coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating for the company. TD Cowen raised their price objective on shares of LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. UBS Group increased their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities increased their target price on shares of LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, Barclays increased their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $268.36.

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.