LPL Financial Holdings Inc. (NASDAQ:LPLA) Short Interest Update

LPL Financial Holdings Inc. (NASDAQ:LPLA) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 2,830,000 shares, a growth of 31.0% from the July 31st total of 2,160,000 shares. Based on an average daily volume of 750,800 shares, the short-interest ratio is presently 3.8 days. Currently, 3.6% of the company’s shares are sold short. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 750,800 shares, the short-interest ratio is presently 3.8 days.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the sale, the director directly owned 19,120 shares of the company’s stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock worth $1,671,235 over the last ninety days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its holdings in shares of LPL Financial by 9.9% during the second quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 27 shares during the period. Compass Financial Services Inc increased its holdings in shares of LPL Financial by 14.5% in the 1st quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 29 shares during the period. Camden National Bank increased its holdings in shares of LPL Financial by 3.1% in the 2nd quarter. Camden National Bank now owns 967 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 29 shares during the period. Perennial Investment Advisors LLC increased its holdings in shares of LPL Financial by 4.0% in the 2nd quarter. Perennial Investment Advisors LLC now owns 804 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 31 shares during the period. Finally, Magnolia Private Wealth LLC grew its stake in shares of LPL Financial by 2.0% in the 2nd quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock valued at $623,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LPLA shares. Citigroup downgraded shares of LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Wall Street Zen cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Finally, Barclays cut their price target on shares of LPL Financial from $463.00 to $460.00 and set an “overweight” rating for the company in a report on Tuesday, September 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $383.33.

LPL Financial Stock Up 0.6%

Shares of NASDAQ:LPLA opened at $341.86 on Thursday. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $369.09 and a 200 day simple moving average of $354.27. The firm has a market cap of $27.35 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66. LPL Financial has a 12-month low of $204.41 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm earned $3.88 earnings per share. The business’s revenue was up 30.8% compared to the same quarter last year. On average, equities research analysts anticipate that LPL Financial will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s payout ratio is presently 8.21%.

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.