Mitsubishi UFJ Asset Management Co. Ltd. Has $28.20 Million Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Mitsubishi UFJ Asset Management increased its stake in LPL Financial by 7.1% in the fourth quarter, bringing its holding to 77,992 shares worth about $28.2 million.
• LPL Financial reported better-than-expected earnings for the latest quarter, with EPS of $5.60 versus $5.49 expected, though revenue of $4.94 billion slightly missed estimates.
• The company declared a quarterly dividend of $0.30 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $398.86.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,992 shares of the financial services provider's stock after buying an additional 5,179 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of LPL Financial worth $28,204,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of LPL Financial by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider's stock valued at $2,762,581,000 after purchasing an additional 317,002 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of LPL Financial by 14.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider's stock worth $1,328,475,000 after acquiring an additional 477,094 shares during the last quarter. Dodge & Cox increased its holdings in shares of LPL Financial by 23.2% during the 3rd quarter. Dodge & Cox now owns 3,329,255 shares of the financial services provider's stock worth $1,107,610,000 after acquiring an additional 627,546 shares during the last quarter. Capital World Investors increased its holdings in shares of LPL Financial by 15,960.1% during the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider's stock worth $874,493,000 after acquiring an additional 2,612,184 shares during the last quarter. Finally, Lone Pine Capital LLC increased its holdings in shares of LPL Financial by 20.5% during the 3rd quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider's stock worth $750,453,000 after acquiring an additional 383,466 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Down 2.0%

Shares of LPL Financial stock opened at $303.52 on Friday. LPL Financial Holdings Inc. has a one year low of $281.51 and a one year high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.45. The stock's 50-day moving average is $309.30 and its 200 day moving average is $342.55. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 0.63 and a beta of 0.57.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company's quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 22.9 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial's dividend payout ratio is presently 10.71%.

Wall Street Analyst Weigh In

LPLA has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on LPL Financial from $396.00 to $390.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. TD Cowen cut their target price on LPL Financial from $330.00 to $326.00 and set a "hold" rating for the company in a research report on Friday, May 1st. Morgan Stanley lowered their price target on LPL Financial from $447.00 to $374.00 and set an "overweight" rating for the company in a report on Friday, April 10th. Jefferies Financial Group lowered their target price on LPL Financial from $464.00 to $383.00 and set a "buy" rating for the company in a report on Monday, April 6th. Finally, UBS Group upped their target price on LPL Financial from $380.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $398.86.

Insiders Place Their Bets

In other news, Director Matthew Enyedi sold 2,109 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the completion of the sale, the director directly owned 14,121 shares of the company's stock, valued at $4,520,838.15. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 1,581 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.50, for a total value of $506,710.50. Following the completion of the sale, the chief financial officer directly owned 21,382 shares of the company's stock, valued at approximately $6,852,931. This trade represents a 6.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,569 shares of company stock worth $2,720,733. Corporate insiders own 0.60% of the company's stock.

LPL Financial 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.

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