Short Interest in LPL Financial Holdings Inc. (NASDAQ:LPLA) Expands By 58.4%

LPL Financial Holdings Inc. (NASDAQ:LPLA) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,200,000 shares, an increase of 58.4% from the February 13th total of 757,600 shares. Based on an average daily volume of 671,800 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.6% of the company’s shares are short sold.

Insider Transactions at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC raised its stake in LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider’s stock worth $3,166,000 after acquiring an additional 28 shares in the last quarter. Colonial Trust Co SC raised its position in LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 29 shares during the last quarter. Wealth Alliance boosted its stake in shares of LPL Financial by 2.1% during the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 30 shares in the last quarter. United Capital Financial Advisors LLC grew its holdings in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group raised its stake in shares of LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPLA stock traded up $13.12 during trading hours on Friday, hitting $321.99. 1,109,574 shares of the stock were exchanged, compared to its average volume of 789,303. LPL Financial has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $24.05 billion, a P/E ratio of 22.93, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a 50-day simple moving average of $352.35 and a two-hundred day simple moving average of $304.26.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JMP Securities reissued a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $379.17.

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.