Generali Asset Management SPA SGR Purchases Shares of 5,955 LPL Financial Holdings Inc. $LPLA

Key Points

• Generali Asset Management SPA SGR acquired 5,955 shares of LPL Financial Holdings Inc., indicating a purchase valued at approximately $2.23 million.
• Institutional investors currently own 95.66% of LPL Financial’s stock, reflecting strong institutional interest in the company.
• LPL Financial recently disclosed a quarterly dividend of $0.30 per share, resulting in an annualized yield of 0.4% for investors.

Generali Asset Management SPA SGR purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,955 shares of the financial services provider's stock, valued at approximately $2,233,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Compass Financial Services Inc raised its holdings in LPL Financial by 14.5% in the 1st quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 29 shares in the last quarter. Magnolia Private Wealth LLC raised its holdings in LPL Financial by 2.0% in the 2nd quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider's stock valued at $623,000 after acquiring an additional 33 shares in the last quarter. Moran Wealth Management LLC raised its holdings in LPL Financial by 1.4% in the 2nd quarter. Moran Wealth Management LLC now owns 2,648 shares of the financial services provider's stock valued at $993,000 after acquiring an additional 37 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in LPL Financial by 4.9% in the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 38 shares in the last quarter. Finally, Cigna Investments Inc. New raised its holdings in LPL Financial by 5.4% in the 2nd quarter. Cigna Investments Inc. New now owns 786 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 40 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director owned 5,582 shares in the company, valued at $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 750 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $314.42, for a total value of $235,815.00. Following the sale, the director owned 16,870 shares in the company, valued at $5,304,265.40. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,333,105 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Rothschild Redb cut LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. UBS Group set a $455.00 price target on LPL Financial in a report on Thursday, October 9th. Finally, The Goldman Sachs Group assumed coverage on LPL Financial in a report on Friday, September 12th. They set a "buy" rating and a $405.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, LPL Financial has an average rating of "Moderate Buy" and a consensus price target of $395.85.

LPL Financial Price Performance

LPL Financial stock opened at $333.43 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a 52 week low of $252.55 and a 52 week high of $403.58. The stock has a market capitalization of $26.67 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.61. The stock has a fifty day moving average of $343.42 and a 200-day moving average of $352.92.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial's quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 EPS. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial's payout ratio is currently 8.21%.

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.

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