Resona Asset Management Co. Ltd. Takes $7.36 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Resona Asset Management Co. Ltd. purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,494 shares of the financial services provider’s stock, valued at approximately $7,360,000.

A number of other institutional investors have also recently bought and sold shares of LPLA. Graney & King LLC purchased a new position in shares of LPL Financial in the 4th quarter worth about $30,000. Jones Financial Companies Lllp grew its position in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc purchased a new stake in shares of LPL Financial during the 4th quarter worth approximately $59,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $65,000. Finally, R Squared Ltd purchased a new position in LPL Financial in the fourth quarter valued at approximately $78,000. Institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 over the last 90 days. 1.30% of the stock is owned by insiders.

LPL Financial Price Performance

LPL Financial stock opened at $287.86 on Tuesday. The business has a 50-day simple moving average of $347.04 and a 200 day simple moving average of $316.90. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.42%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LPLA shares. Barclays decreased their target price on LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. JMP Securities reissued a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $376.33.

LPL Financial 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.