LPL Financial Holdings Inc. (LPLA) Short Interest Update
LPL Financial Holdings Inc. (NASDAQ:LPLA) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 11,310,210 shares, a decline of 18.6% from the October 31st total of 13,886,812 shares. Based on an average daily trading volume, of 1,441,402 shares, the short-interest ratio is currently 7.8 days. Approximately 14.6% of the shares of the stock are short sold.
Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 41.19 on Thursday. The stock has a 50 day moving average of $34.27 and a 200 day moving average of $28.51. LPL Financial Holdings has a 12 month low of $15.38 and a 12 month high of $48.00. The stock has a market cap of $3.67 billion, a PE ratio of 21.30 and a beta of 1.71.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. LPL Financial Holdings had a net margin of 4.36% and a return on equity of 24.56%. The firm earned $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $0.55 earnings per share. LPL Financial Holdings’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that LPL Financial Holdings will post $2.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Monday, November 14th. LPL Financial Holdings’s dividend payout ratio is presently 51.28%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. SunTrust Banks Inc. restated a “hold” rating and issued a $36.00 target price (up from $35.00) on shares of LPL Financial Holdings in a report on Thursday, November 3rd. TheStreet upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Credit Suisse Group AG cut shares of LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, August 22nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut shares of LPL Financial Holdings from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $30.00 to $31.00 in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.23.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairview Capital Investment Management LLC raised its position in LPL Financial Holdings by 17.5% in the second quarter. Fairview Capital Investment Management LLC now owns 5,838,312 shares of the company’s stock valued at $131,537,000 after buying an additional 867,650 shares during the last quarter. JPMorgan Chase & Co. raised its position in LPL Financial Holdings by 138.1% in the second quarter. JPMorgan Chase & Co. now owns 301,281 shares of the company’s stock valued at $6,788,000 after buying an additional 174,744 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in LPL Financial Holdings by 30.6% in the second quarter. UBS Asset Management Americas Inc. now owns 69,328 shares of the company’s stock valued at $1,562,000 after buying an additional 16,247 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in LPL Financial Holdings during the second quarter valued at approximately $811,000. Finally, California Public Employees Retirement System raised its position in LPL Financial Holdings by 5.3% in the second quarter. California Public Employees Retirement System now owns 206,200 shares of the company’s stock valued at $4,646,000 after buying an additional 10,400 shares during the last quarter.
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About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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