MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $1.82 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,902 shares of the financial services provider’s stock, valued at approximately $1,824,000.

A number of other institutional investors have also modified their holdings of LPLA. Mawer Investment Management Ltd. acquired a new stake in LPL Financial during the fourth quarter worth about $3,375,000. Hudson Bay Capital Management LP raised its stake in LPL Financial by 42.9% during the third quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock worth $11,882,000 after acquiring an additional 15,000 shares during the period. Asset Management One Co. Ltd. raised its stake in LPL Financial by 15.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after acquiring an additional 4,686 shares during the period. NewEdge Wealth LLC increased its stake in shares of LPL Financial by 228.6% in the fourth quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock valued at $12,707,000 after purchasing an additional 38,839 shares during the period. Finally, Boston Partners increased its stake in shares of LPL Financial by 21.5% in the fourth quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after purchasing an additional 181,594 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

LPL Financial Stock Down 0.0 %

Shares of NASDAQ:LPLA opened at $282.00 on Wednesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $21.07 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. LPL Financial Holdings Inc. has a 52 week low of $200.18 and a 52 week high of $289.88. The firm has a 50 day simple moving average of $275.65 and a 200 day simple moving average of $259.55.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating the consensus estimate of $3.77 by $0.44. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. As a group, research analysts expect that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. LPL Financial’s payout ratio is 9.06%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. TD Cowen raised their price target on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Barclays increased their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $305.00 price objective on shares of LPL Financial in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $276.20.

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.