Mirae Asset Global Investments Co. Ltd. Purchases 316 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mirae Asset Global Investments Co. Ltd. boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,233 shares of the financial services provider’s stock after purchasing an additional 316 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LPL Financial were worth $2,692,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LPLA. Ashton Thomas Securities LLC bought a new position in LPL Financial in the 3rd quarter valued at approximately $31,000. Paladin Wealth LLC bought a new stake in LPL Financial during the 3rd quarter worth approximately $34,000. Brooklyn Investment Group acquired a new position in LPL Financial in the 3rd quarter valued at approximately $43,000. R Squared Ltd bought a new position in shares of LPL Financial during the fourth quarter valued at $78,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of LPL Financial by 32.3% during the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 94 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.5 %

LPLA opened at $369.14 on Monday. The company has a market cap of $27.64 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The company has a fifty day moving average price of $339.73 and a two-hundred day moving average price of $279.61. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $375.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Analysts predict that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LPLA. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities reissued a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

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.