LPL Financial Holdings Inc (LPLA) Short Interest Down 62.5% in November

LPL Financial Holdings Inc (NASDAQ:LPLA) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 764,613 shares, a decline of 62.5% from the November 15th total of 2,038,869 shares. Based on an average daily trading volume, of 586,354 shares, the short-interest ratio is currently 1.3 days. Currently, 0.9% of the company’s stock are short sold.

Shares of LPL Financial (NASDAQ LPLA) opened at $54.90 on Friday. The stock has a market cap of $4,960.00, a PE ratio of 22.57, a PEG ratio of 1.88 and a beta of 1.88. LPL Financial has a 52-week low of $34.45 and a 52-week high of $56.56. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. LPL Financial’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 earnings per share. sell-side analysts forecast that LPL Financial will post 2.31 EPS for the current year.

LPL Financial announced that its board has authorized a stock buyback program on Tuesday, December 5th that permits the company to buyback $359.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.82%. LPL Financial’s dividend payout ratio is 42.37%.

In related news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LPLA. Mckinley Capital Management LLC Delaware bought a new stake in LPL Financial during the second quarter worth about $104,000. Public Employees Retirement Association of Colorado lifted its position in LPL Financial by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 52 shares during the period. The Manufacturers Life Insurance Company lifted its position in LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the period. Comerica Bank bought a new stake in LPL Financial during the third quarter worth about $200,000. Finally, Virginia Retirement Systems ET AL acquired a new position in LPL Financial during the third quarter worth about $227,000. 90.33% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on LPLA. SunTrust Banks restated a “buy” rating and set a $65.00 target price on shares of LPL Financial in a report on Friday, October 27th. Nomura boosted their target price on shares of LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Credit Suisse Group initiated coverage on shares of LPL Financial in a report on Thursday, November 30th. They issued an “outperform” rating and a $68.00 price objective on the stock. Zacks Investment Research downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Finally, J P Morgan Chase & Co upped their price objective on shares of LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. LPL Financial currently has an average rating of “Hold” and a consensus target price of $54.55.

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LPL Financial Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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