Jane Street Group LLC Sells 14,874 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Jane Street Group LLC cut its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,652 shares of the financial services provider’s stock after selling 14,874 shares during the quarter. Jane Street Group LLC owned approximately 0.13% of Lakeland Financial worth $2,191,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in Lakeland Financial in the third quarter worth about $199,000. FMR LLC raised its stake in shares of Lakeland Financial by 41.1% in the third quarter. FMR LLC now owns 82,428 shares of the financial services provider’s stock valued at $5,368,000 after buying an additional 24,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Lakeland Financial during the 3rd quarter valued at $616,000. Envestnet Asset Management Inc. increased its holdings in Lakeland Financial by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock worth $14,386,000 after acquiring an additional 12,846 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lakeland Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider’s stock worth $58,801,000 after purchasing an additional 27,214 shares during the period. 81.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,150 shares of company stock valued at $305,327 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Lakeland Financial Stock Up 0.0 %

NASDAQ LKFN opened at $68.90 on Tuesday. The company’s 50 day moving average is $70.80 and its 200-day moving average is $66.39. The firm has a market cap of $1.76 billion, a P/E ratio of 17.90 and a beta of 0.67. Lakeland Financial Co. has a 12-month low of $57.45 and a 12-month high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The company had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same period last year, the business earned $0.98 earnings per share. Equities analysts expect that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, October 25th. Lakeland Financial’s dividend payout ratio (DPR) is 49.87%.

Lakeland Financial Company Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.