Moore Capital Management LP Makes New $15.73 Million Investment in LPL Financial Holdings Inc. $LPLA

Moore Capital Management LP bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,840 shares of the financial services provider’s stock, valued at approximately $15,729,000. Moore Capital Management LP owned approximately 0.07% of LPL Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LPLA. Egerton Capital UK LLP bought a new position in shares of LPL Financial in the 4th quarter worth $91,012,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in LPL Financial by 7.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider’s stock valued at $28,204,000 after purchasing an additional 5,179 shares during the period. Markel Group Inc. increased its stake in LPL Financial by 1.2% during the 4th quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider’s stock valued at $199,998,000 after purchasing an additional 6,630 shares in the last quarter. Norges Bank bought a new stake in LPL Financial during the 4th quarter valued at $371,616,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in LPL Financial by 56.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 158,783 shares of the financial services provider’s stock worth $56,713,000 after buying an additional 57,362 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a report on Friday, July 31st. Morgan Stanley upped their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. UBS Group dropped their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $406.69.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. This represents a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,427 shares of company stock valued at $1,910,778 in the last three months. Company insiders own 0.60% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA opened at $370.69 on Monday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 0.62 and a beta of 0.48. The stock has a 50 day moving average of $333.13 and a 200 day moving average of $314.67. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16.

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

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial’s payout ratio is presently 9.57%.

LPL Financial Company Profile

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.