LPL Financial Holdings Inc. (NASDAQ:LPLA) Sees Large Decrease in Short Interest

LPL Financial Holdings Inc. (NASDAQ:LPLA) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 907,300 shares, a drop of 19.7% from the October 15th total of 1,130,000 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 846,100 shares, the days-to-cover ratio is currently 1.1 days.

LPL Financial Stock Performance

Shares of LPLA opened at $314.54 on Friday. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. The company’s fifty day moving average is $250.17 and its 200-day moving average is $251.18. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 12 month low of $187.19 and a 12 month high of $322.03.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $3.74 earnings per share. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts expect that LPL Financial will post 16.08 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.38%. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.

Hedge Funds Weigh In On LPL Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in LPL Financial in the 1st quarter worth $198,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of LPL Financial by 11.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 35,769 shares of the financial services provider’s stock worth $9,450,000 after purchasing an additional 3,534 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of LPL Financial during the 1st quarter worth about $259,000. State Board of Administration of Florida Retirement System boosted its stake in LPL Financial by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 95,589 shares of the financial services provider’s stock valued at $25,255,000 after purchasing an additional 7,740 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in LPL Financial by 14.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 39,331 shares of the financial services provider’s stock valued at $10,391,000 after buying an additional 5,101 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group lowered their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $286.92.

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.