Short Interest in LPL Financial Holdings Inc. (NASDAQ:LPLA) Declines By 19.7%

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Citigroup lifted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group boosted their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods dropped their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial in the 2nd quarter worth $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the second quarter worth about $28,000. Crewe Advisors LLC lifted its stake in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Tortoise Investment Management LLC increased its holdings in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial in the 3rd quarter valued at approximately $31,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.2 %

Shares of NASDAQ LPLA traded down $0.52 during midday trading on Friday, hitting $314.02. The stock had a trading volume of 402,411 shares, compared to its average volume of 742,722. 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 1-year low of $187.19 and a 1-year high of $322.03. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. The company has a fifty day moving average price of $252.22 and a 200 day moving average price of $251.33.

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

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. LPL Financial’s dividend payout ratio is currently 9.02%.

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 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.