Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 95,357 LPL Financial Holdings Inc. $LPLA

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 95,357 shares of the financial services provider’s stock, valued at approximately $26,860,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of LPL Financial as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LPLA. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in LPL Financial in the 4th quarter worth about $450,493,000. Norges Bank purchased a new stake in LPL Financial in the 4th quarter valued at about $371,616,000. Capital World Investors boosted its position in LPL Financial by 37.9% in the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after buying an additional 996,806 shares during the period. Assenagon Asset Management S.A. grew its stake in LPL Financial by 4,435.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 747,086 shares of the financial services provider’s stock worth $210,439,000 after acquiring an additional 730,613 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock worth $793,163,000 after acquiring an additional 702,061 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares of the company’s stock, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

Shares of LPLA stock opened at $354.02 on Friday. The business’s fifty day simple moving average is $325.27 and its 200-day simple moving average is $315.54. The company has a market cap of $27.88 billion, a PE ratio of 28.23, a PEG ratio of 0.60 and a beta of 0.48. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial’s revenue was up 35.2% on a year-over-year basis. During the same period last year, the firm posted $4.51 EPS. Analysts expect that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. LPL Financial’s dividend payout ratio is presently 9.57%.

Analysts Set New Price Targets

Several research analysts recently issued reports on LPLA shares. Wolfe Research reissued an “outperform” rating and issued a $454.00 price objective on shares of LPL Financial in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Friday, July 24th. Finally, William Blair restated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.