Mediolanum International Funds Ltd Has $1.64 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Mediolanum International Funds Ltd has significantly reduced its stake in LPL Financial Holdings Inc. by 67.2%, now holding 4,878 shares valued at approximately $1.64 million.
• Analyst ratings on LPL Financial have varied, with Wells Fargo raising the stock's price target to $420 while Citigroup downgraded it to a sell rating with a target price of $80.
• LPL Financial recently reported earnings of $5.15 EPS, exceeding analyst expectations, and announced a quarterly dividend of $0.30, reflecting a yield of 0.31%.

Mediolanum International Funds Ltd decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 67.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,878 shares of the financial services provider's stock after selling 9,981 shares during the quarter. Mediolanum International Funds Ltd's holdings in LPL Financial were worth $1,643,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in LPL Financial by 1,453.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock valued at $339,795,000 after purchasing an additional 971,814 shares during the period. Jennison Associates LLC grew its position in LPL Financial by 786.2% during the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after buying an additional 851,115 shares in the last quarter. Egerton Capital UK LLP increased its stake in LPL Financial by 238.1% during the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock worth $285,026,000 after acquiring an additional 613,555 shares during the period. Janus Henderson Group PLC raised its holdings in LPL Financial by 20.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after acquiring an additional 522,032 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of LPL Financial during the 4th quarter valued at $153,946,000. Institutional investors own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total value of $573,945.00. Following the sale, the director owned 20,620 shares in the company, valued at approximately $7,889,830.60. The trade was a 6.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LPLA shares. Wells Fargo & Company raised their price target on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a report on Wednesday, July 9th. Finally, Barclays lifted their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $381.08.

LPL Financial Trading Down 7.7%

Shares of NASDAQ:LPLA traded down $30.66 during midday trading on Friday, hitting $365.07. 1,695,728 shares of the stock were exchanged, compared to its average volume of 814,371. The business's 50-day moving average price is $378.58 and its 200 day moving average price is $354.67. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $403.58. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market capitalization of $29.20 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 0.98 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results 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 firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.88 EPS. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio is currently 8.30%.

LPL Financial Company 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.