11,906 Shares of LPL Financial Holdings Inc. $LPLA Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,906 shares of the financial services provider’s stock, valued at approximately $3,641,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of LPL Financial in the second quarter valued at approximately $1,333,189,000. Jupiter Topco LLC acquired a new stake in shares of LPL Financial in the 2nd quarter worth $1,182,595,000. Janus Henderson Group PLC boosted its holdings in shares of LPL Financial by 8.6% in the first quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock valued at $1,103,079,000 after acquiring an additional 289,227 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after acquiring an additional 702,061 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in shares of LPL Financial by 0.8% during the first quarter. WCM Investment Management LLC now owns 1,734,395 shares of the financial services provider’s stock worth $520,631,000 after acquiring an additional 12,922 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

LPLA stock traded down $5.38 during trading on Friday, reaching $295.51. 851,700 shares of the company were exchanged, compared to its average volume of 1,129,418. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.62 and a current ratio of 2.62. The stock’s 50 day moving average price is $324.16 and its 200 day moving average price is $321.25. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The company has a market cap of $23.01 billion, a P/E ratio of 16.95, a PEG ratio of 0.57 and a beta of 0.55.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.69 by $0.28. LPL Financial had a net margin of 6.83% and a return on equity of 32.05%. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the company posted $5.20 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts predict that LPL Financial Holdings Inc. will post 23.45 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio is currently 6.88%.

Analyst Ratings Changes

Several research firms recently issued reports on LPLA. TD Cowen cut their price target on shares of LPL Financial from $380.00 to $356.00 and set a “hold” rating for the company in a report on Wednesday, October 28th. Barclays dropped their target price on LPL Financial from $409.00 to $372.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Morgan Stanley increased their target price on LPL Financial from $387.00 to $393.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Citizens Jmp restated a “market outperform” rating and issued a $500.00 price target on shares of LPL Financial in a research note on Monday, October 5th. Finally, Bank of America dropped their price objective on LPL Financial from $557.00 to $554.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.60.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director directly owned 6,107 shares in the company, valued at approximately $2,182,397.52. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the transaction, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,867 shares of company stock valued at $1,726,944 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

LPL Financial Profile

LPL Financial Holdings Inc provides brokerage and investment advisory services through a network of independent financial professionals. The company supports financial advisors, registered investment advisers, banks and credit unions with services designed to help them serve individual and institutional clients.

Its offerings include investment and retirement planning platforms, brokerage and advisory account services, custody, financial technology, research, compliance support and practice-management resources.