SurgoCap Partners LP Has $231.58 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

SurgoCap Partners LP lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 709,270 shares of the financial services provider’s stock after selling 71,451 shares during the period. LPL Financial accounts for 11.9% of SurgoCap Partners LP’s portfolio, making the stock its 4th largest holding. SurgoCap Partners LP owned about 0.95% of LPL Financial worth $231,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Graney & King LLC acquired a new position in LPL Financial in the 4th quarter worth $30,000. Itau Unibanco Holding S.A. bought a new position in LPL Financial in the 4th quarter valued at about $42,000. Jones Financial Companies Lllp raised its holdings in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $59,000. Finally, Compass Financial Services Inc acquired a new stake in shares of LPL Financial during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Citigroup cut their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Barclays boosted their target price on shares of LPL Financial from $365.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Morgan Stanley upped their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $374.42.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This represents a 21.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

LPLA opened at $384.61 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The firm has a 50 day moving average of $326.05 and a two-hundred day moving average of $333.50. The firm has a market capitalization of $30.76 billion, a PE ratio of 27.39, a P/E/G ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm earned $3.83 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial’s 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.