Robeco Institutional Asset Management B.V. Has $20.37 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Robeco Institutional Asset Management B.V. boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 553.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 93,225 shares of the financial services provider’s stock after purchasing an additional 78,963 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in LPL Financial were worth $20,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in LPL Financial by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,121,019 shares of the financial services provider’s stock valued at $1,555,799,000 after buying an additional 104,104 shares during the period. BlackRock Inc. increased its stake in LPL Financial by 7.5% in the third quarter. BlackRock Inc. now owns 4,836,280 shares of the financial services provider’s stock valued at $1,056,630,000 after purchasing an additional 338,360 shares in the last quarter. Wellington Management Group LLP increased its stake in LPL Financial by 7.5% in the first quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock valued at $652,923,000 after purchasing an additional 248,255 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in LPL Financial by 0.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,699,829 shares of the financial services provider’s stock valued at $498,064,000 after purchasing an additional 14,585 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in LPL Financial by 56.1% in the third quarter. WCM Investment Management LLC now owns 2,394,492 shares of the financial services provider’s stock valued at $518,336,000 after purchasing an additional 860,943 shares in the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.

LPL Financial Trading Up 3.6 %

NASDAQ:LPLA opened at $202.64 on Friday. LPL Financial Holdings Inc. has a one year low of $165.47 and a one year high of $271.56. The company has a market cap of $15.94 billion, a PE ratio of 19.45, a PEG ratio of 0.23 and a beta of 0.95. The firm has a 50-day moving average of $235.67 and a 200-day moving average of $232.25. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.60 and a quick ratio of 1.60.

LPL Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 13th. This is a boost from LPL Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.59%. LPL Financial’s payout ratio is 11.52%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LPLA shares. Morgan Stanley lifted their price target on shares of LPL Financial from $239.00 to $244.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a research note on Tuesday, January 17th. UBS Group downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $305.00 to $230.00 in a research note on Thursday, November 17th. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $259.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Finally, StockNews.com assumed coverage on shares of LPL Financial in a research report on Thursday. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $260.88.

Insider Buying and Selling

In related news, Director Michelle Oroschakoff sold 4,809 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.18, for a total transaction of $1,183,879.62. Following the transaction, the director now directly owns 23,852 shares in the company, valued at $5,871,885.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Michelle Oroschakoff sold 4,809 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.18, for a total transaction of $1,183,879.62. Following the transaction, the director now directly owns 23,852 shares in the company, valued at $5,871,885.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 38,444 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $246.20, for a total transaction of $9,464,912.80. Following the transaction, the chief executive officer now owns 154,884 shares in the company, valued at $38,132,440.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,693 shares of company stock worth $22,341,455. 1.60% of the stock is owned by insiders.

About LPL Financial

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.