Mitsubishi UFJ Trust & Banking Corp Has $14.91 Million Holdings in LPL Financial Holdings Inc. $LPLA

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,760 shares of the financial services provider’s stock after selling 4,011 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in LPL Financial were worth $14,909,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. AGF Management Ltd. grew its stake in LPL Financial by 74.9% in the 2nd quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after buying an additional 327,580 shares during the last quarter. Bryn Mawr Trust Advisors LLC bought a new stake in shares of LPL Financial during the second quarter worth approximately $316,000. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $426,846,000 after acquiring an additional 105,665 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of LPL Financial by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after purchasing an additional 18,252 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of LPL Financial during the first quarter worth approximately $1,728,000. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total transaction of $564,645.00. Following the completion of the sale, the director owned 15,370 shares in the company, valued at $5,785,729.10. This represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,830 shares of company stock worth $1,336,675. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LPLA has been the subject of several recent research reports. Citizens Jmp boosted their price target on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Rothschild Redb downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. TD Cowen upped their price target on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $421.00 price objective on shares of LPL Financial in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and an average price target of $429.00.

LPL Financial Trading Down 0.5%

Shares of LPLA stock opened at $370.59 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58. The stock’s fifty day moving average price is $342.72 and its two-hundred day moving average price is $360.87. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market cap of $29.66 billion, a PE ratio of 34.12, a P/E/G ratio of 0.82 and a beta of 0.63.

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

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend 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 is 11.05%.

About LPL Financial

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.