LPL Financial's P-E owners to exit combined 16% of stake

P-E firms Hellman & Friedman and TPG are distributing 16.6M shares (15.6% of shares outstanding) of LPL Financial (LPLA -0.3%) to their limited partners. Hellman & Friedman is completing the exit of its entire stake in LPL, whileTPG will continue holding 16.7M shares. The distribution will occur on Aug. 15.

Hellman & Friedman and TPG were the original P-E backers of LPL. The distribution is a continuation of the P-E firms' exit - the two previously reduced their holdings by 12.5M shares in May. The timing seems good, as LPLA sits near new 52-week highs.

Buybacks could help offset the sales that stem from the distribution. LPL has $198M remaining on its buyback authorization (or 5.1M shares at today's close).

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs