SurgoCap Partners LP Sells 71,451 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

SurgoCap Partners LP lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 9.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 709,270 shares of the financial services provider's stock after selling 71,451 shares during the period. LPL Financial comprises approximately 11.9% of SurgoCap Partners LP's holdings, making the stock its 4th biggest holding. SurgoCap Partners LP owned about 0.95% of LPL Financial worth $231,584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its position in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after buying an additional 14,106 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock worth $10,190,000 after buying an additional 1,383 shares in the last quarter. Bank of Montreal Can lifted its position in LPL Financial by 46.9% during the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after buying an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in LPL Financial by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after buying an additional 13,936 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares of the company's stock, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

LPLA has been the subject of several recent research reports. Citigroup dropped their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Barclays boosted their price objective on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wells Fargo & Company dropped their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $374.42.

LPL Financial Stock Down 0.3%

NASDAQ LPLA traded down $1.17 during trading hours on Tuesday, reaching $384.20. 401,171 shares of the company's stock were exchanged, compared to its average volume of 835,114. The company's 50-day moving average is $328.88 and its two-hundred day moving average is $334.94. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $30.73 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the business earned $3.83 EPS. LPL Financial's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) 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.