LPL Financial Holdings Inc (LPLA) Short Interest Down 41.4% in February

LPL Financial Holdings Inc (NASDAQ:LPLA) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,478,669 shares, a decrease of 41.4% from the February 15th total of 2,522,850 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 992,676 shares, the short-interest ratio is currently 1.5 days.

LPLA has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of LPL Financial in a report on Monday, March 11th. They set a “buy” rating and a $82.00 price target for the company. Morgan Stanley set a $70.00 price target on shares of LPL Financial and gave the company a “hold” rating in a report on Friday, February 8th. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, February 7th. BidaskClub upgraded shares of LPL Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 19th. Finally, Credit Suisse Group restated a “buy” rating and set a $91.00 price target on shares of LPL Financial in a report on Monday, February 4th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $80.60.

Shares of LPLA opened at $74.54 on Friday. The stock has a market cap of $6.32 billion, a PE ratio of 13.98, a P/E/G ratio of 0.76 and a beta of 1.64. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.34 and a quick ratio of 1.34. LPL Financial has a 52 week low of $52.03 and a 52 week high of $79.34.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.12. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. LPL Financial had a net margin of 8.47% and a return on equity of 46.58%. Equities analysts predict that LPL Financial will post 6.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, March 14th. LPL Financial’s dividend payout ratio is currently 18.76%.

In related news, Director Michelle Oroschakoff sold 1,214 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $73.81, for a total value of $89,605.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Gooley sold 25,392 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $74.06, for a total transaction of $1,880,531.52. Following the completion of the sale, the insider now owns 17,293 shares of the company’s stock, valued at $1,280,719.58. The disclosure for this sale can be found here. Insiders sold 189,418 shares of company stock valued at $13,893,460 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in LPL Financial by 0.8% in the third quarter. BlackRock Inc. now owns 4,142,421 shares of the financial services provider’s stock worth $267,226,000 after purchasing an additional 34,253 shares in the last quarter. FMR LLC raised its position in LPL Financial by 35.4% in the third quarter. FMR LLC now owns 1,971,605 shares of the financial services provider’s stock worth $127,189,000 after purchasing an additional 515,091 shares in the last quarter. Boston Advisors LLC acquired a new position in LPL Financial in the fourth quarter worth about $4,092,000. GAM Holding AG raised its position in LPL Financial by 160.5% in the third quarter. GAM Holding AG now owns 9,077 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 5,593 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in LPL Financial by 5.9% in the third quarter. Allianz Asset Management GmbH now owns 280,139 shares of the financial services provider’s stock worth $18,073,000 after purchasing an additional 15,721 shares in the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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About LPL Financial

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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