Mediolanum International Funds Ltd Purchases Shares of 26,485 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mediolanum International Funds Ltd purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,485 shares of the financial services provider’s stock, valued at approximately $6,955,000.

Other institutional investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. purchased a new stake in LPL Financial during the fourth quarter valued at about $3,375,000. Hudson Bay Capital Management LP boosted its holdings in shares of 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 purchasing an additional 15,000 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 4,686 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of LPL Financial by 228.6% during the fourth quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after purchasing an additional 38,839 shares during the period. Finally, Boston Partners boosted its holdings in shares of LPL Financial by 21.5% during the fourth quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock worth $233,744,000 after purchasing an additional 181,594 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Down 0.1 %

Shares of NASDAQ LPLA traded down $0.28 on Wednesday, reaching $272.94. 325,983 shares of the company’s stock traded hands, compared to its average volume of 524,191. The business’s 50 day simple moving average is $276.47 and its two-hundred day simple moving average is $261.45. LPL Financial Holdings Inc. has a 12 month low of $200.18 and a 12 month high of $289.88. The company has a market cap of $20.39 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

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

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s payout ratio is currently 9.06%.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a report on Monday. JMP Securities reiterated a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. Barclays increased their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TD Cowen increased their target price on shares of LPL Financial from $271.00 to $279.00 and gave the stock a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $284.30.

Check Out Our Latest Report on LPLA

LPL Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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