9,308 Shares in LPL Financial Holdings Inc. $LPLA Bought by Bain Capital Public Equity Management II LLC

Key Points

• Bain Capital Public Equity Management II LLC acquired a new stake in LPL Financial Holdings Inc., purchasing 9,308 shares valued at approximately $3,045,000, which accounts for 0.2% of its holdings.
• LPL Financial reported earnings per share of $4.51 for the last quarter, exceeding analysts’ expectations of $4.21, and its revenue increased by 30.8% year-over-year.
• The company recently declared a quarterly dividend of $0.30 per share, reflecting a low payout ratio of 8.21%, with an annualized dividend yield of 0.3%.

Bain Capital Public Equity Management II LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 9,308 shares of the financial services provider's stock, valued at approximately $3,045,000. LPL Financial comprises approximately 0.2% of Bain Capital Public Equity Management II LLC's portfolio, making the stock its 15th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of LPL Financial in the 1st quarter worth $26,000. Millstone Evans Group LLC increased its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Private Trust Co. NA increased its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after purchasing an additional 39 shares during the last quarter. Finally, City Holding Co. purchased a new position in LPL Financial during the 1st quarter valued at about $34,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley restated an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, 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 research note on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $383.33.

LPL Financial Stock Down 7.5%

LPLA stock traded down $27.05 during trading on Friday, hitting $332.99. 1,643,770 shares of the company's stock were exchanged, compared to its average volume of 622,539. The business has a 50-day moving average price of $371.13 and a two-hundred day moving average price of $354.85. The stock has a market capitalization of $26.64 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.78 and a beta of 0.66. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41.

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 the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The firm's revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.88 earnings per share. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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

Insider Activity at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,080 shares of company stock worth $1,163,920. 1.30% of the stock is currently owned by corporate insiders.

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.