LPL Financial Holdings Inc (LPLA) Shares Sold by Highbridge Capital Management LLC
Highbridge Capital Management LLC lessened its holdings in LPL Financial Holdings Inc (NASDAQ:LPLA) by 32.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,728 shares of the financial services provider’s stock after selling 4,645 shares during the quarter. Highbridge Capital Management LLC’s holdings in LPL Financial were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in LPLA. US Bancorp DE grew its position in shares of LPL Financial by 1,477.4% during the 2nd quarter. US Bancorp DE now owns 6,988 shares of the financial services provider’s stock worth $297,000 after buying an additional 6,545 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of LPL Financial by 9,223.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 88,950 shares of the financial services provider’s stock worth $3,776,000 after buying an additional 87,996 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of LPL Financial by 1.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after buying an additional 52 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of LPL Financial by 41.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,485 shares of the financial services provider’s stock worth $444,000 after buying an additional 3,086 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of LPL Financial by 7.0% during the 2nd quarter. Sei Investments Co. now owns 70,612 shares of the financial services provider’s stock worth $2,999,000 after buying an additional 4,619 shares in the last quarter. 90.33% of the stock is currently owned by institutional investors.
Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) opened at $55.95 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $4,951.44, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.83 and a beta of 1.88. LPL Financial Holdings Inc has a 12 month low of $34.45 and a 12 month high of $56.56.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. analysts anticipate that LPL Financial Holdings Inc will post 2.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Wednesday, November 8th. LPL Financial’s dividend payout ratio (DPR) is currently 42.55%.
LPL Financial announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 5th that authorizes the company to buyback $359.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have recently issued reports on LPLA shares. Citigroup increased their price target on LPL Financial from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Nomura increased their price target on LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. SunTrust Banks reissued a “buy” rating and set a $65.00 price target on shares of LPL Financial in a research report on Friday, October 27th. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Thursday, October 26th. Finally, ValuEngine downgraded LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. LPL Financial currently has a consensus rating of “Hold” and an average target price of $54.55.
In related news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.
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About LPL Financial
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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