Resona Asset Management Co. Ltd. Purchases 2,754 Shares of LPL Financial Holdings Inc. $LPLA

Resona Asset Management Co. Ltd. raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.7% in the second quarter, Holdings Channel reports. The firm owned 26,346 shares of the financial services provider’s stock after acquiring an additional 2,754 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in LPL Financial were worth $9,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock valued at $426,846,000 after purchasing an additional 105,665 shares during the period. Nisa Investment Advisors LLC grew its position in LPL Financial by 198.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider’s stock worth $2,125,000 after purchasing an additional 4,319 shares during the period. Charles Schwab Investment Management Inc. raised its stake in LPL Financial by 5.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after buying an additional 18,252 shares during the last quarter. FORA Capital LLC bought a new position in shares of LPL Financial during the 1st quarter valued at $1,728,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of LPL Financial by 30.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 191,727 shares of the financial services provider’s stock worth $71,524,000 after buying an additional 44,249 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total value of $564,645.00. Following the completion of the sale, the director directly owned 15,370 shares in the company, valued at approximately $5,785,729.10. The trade was a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,830 shares of company stock worth $1,336,675 over the last ninety days. Insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 0.2%

Shares of LPLA opened at $373.50 on Friday. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The company has a 50 day simple moving average of $340.79 and a two-hundred day simple moving average of $358.81. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 3.22. The firm has a market cap of $29.89 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 0.83 and a beta of 0.63.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. LPL Financial’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.16 earnings per share. On average, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 11.05%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LPLA. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research report on Friday, October 31st. Barclays upped their price target on shares of LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. JMP Securities set a $475.00 target price on shares of LPL Financial in a research report on Friday, October 31st. Citizens Jmp increased their price target on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Finally, Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $429.00.

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.