SCS Capital Management LLC Takes $60.14 Million Position in LPL Financial Holdings Inc. $LPLA

SCS Capital Management LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, Holdings Channel.com reports. The fund bought 213,511 shares of the financial services provider’s stock, valued at approximately $60,142,000. LPL Financial accounts for 0.6% of SCS Capital Management LLC’s investment portfolio, making the stock its 16th largest holding.

Other large investors also recently modified their holdings of the company. Osterweis Capital Management Inc. acquired a new position in LPL Financial during the second quarter worth $26,000. Clearstead Advisors LLC grew its holdings 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 buying an additional 73 shares during the last quarter. Core Wealth Advisors LLC acquired a new position in shares of LPL Financial during the fourth quarter valued at about $36,000. Physician Wealth Advisors Inc. increased its position in shares of LPL Financial by 580.0% during the first 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 in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of LPL Financial during the fourth quarter worth about $50,000. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPLA has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. Wolfe Research reissued an “outperform” rating and set a $454.00 price objective on shares of LPL Financial in a report on Wednesday. UBS Group lowered their price objective on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, TD Cowen raised their target price on LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director directly owned 13,121 shares in the company, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $370.67 on Friday. The company has a fifty day moving average price of $319.20 and a 200-day moving average price of $315.91. The firm has a market cap 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 company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the firm earned $4.51 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is 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.