LPL Financial Holdings Inc. (NASDAQ:LPLA) is Eminence Capital LP’s 8th Largest Position

Eminence Capital LP reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 669,251 shares of the financial services provider’s stock after selling 66,615 shares during the period. LPL Financial comprises approximately 3.0% of Eminence Capital LP’s holdings, making the stock its 8th biggest holding. Eminence Capital LP owned 0.90% of LPL Financial worth $186,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in shares of LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock valued at $11,057,000 after buying an additional 11,703 shares during the period. Acadian Asset Management LLC grew its stake in shares of LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 4,340 shares during the period. Swedbank AB purchased a new stake in shares of LPL Financial during the 1st quarter valued at $3,648,000. Sei Investments Co. grew its stake in shares of LPL Financial by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock valued at $29,923,000 after buying an additional 21,481 shares during the period. Finally, Raymond James & Associates grew its stake in shares of LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after buying an additional 20,123 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPLA stock opened at $230.35 on Thursday. The firm has a market capitalization of $17.21 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.27 and a beta of 0.88. The company’s fifty day moving average price is $215.12 and its two-hundred day moving average price is $250.91. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.94 EPS. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio is presently 9.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LPLA shares. JMP Securities lifted their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Wells Fargo & Company started coverage on shares of LPL Financial in a report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 target price on the stock. Finally, Barclays reduced their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $275.27.

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.