SurgoCap Partners LP Acquires New Position in LPL Financial Holdings Inc. $LPLA

SurgoCap Partners LP acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,063,218 shares of the financial services provider’s stock, valued at approximately $299,487,000. LPL Financial makes up 9.7% of SurgoCap Partners LP’s investment portfolio, making the stock its 4th biggest holding. SurgoCap Partners LP owned 1.35% of LPL Financial at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LPLA. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial in the second quarter worth approximately $26,000. Clearstead Advisors LLC increased its position in shares of LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $36,000. Physician Wealth Advisors Inc. raised its holdings in LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 116 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in LPL Financial in the 4th quarter worth approximately $50,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPLA has been the topic of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. BMO Capital Markets boosted their price target on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. UBS Group lowered their price target on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Wolfe Research reaffirmed an “outperform” rating and set a $454.00 price objective on shares of LPL Financial in a research report on Wednesday, August 12th. Finally, Morgan Stanley lifted their price objective on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $406.69.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $364.18 on Tuesday. The stock has a market cap of $28.68 billion, a P/E ratio of 29.04, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The stock’s fifty day moving average is $327.96 and its 200 day moving average is $315.28. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the business posted $4.51 earnings per share. The business’s quarterly revenue was up 35.2% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s payout ratio is 9.57%.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the sale, the director owned 23,602 shares in the company, valued at approximately $8,387,678.76. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,427 shares of company stock valued at $1,910,778. 0.60% of the stock is owned by corporate insiders.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.