Eminence Capital LP Has $157.81 Million Stock Position in LPL Financial Holdings Inc. $LPLA

Eminence Capital LP cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 441,845 shares of the financial services provider’s stock after selling 145,779 shares during the period. LPL Financial makes up approximately 2.5% of Eminence Capital LP’s investment portfolio, making the stock its 18th largest holding. Eminence Capital LP owned about 0.55% of LPL Financial worth $157,814,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of LPL Financial by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider’s stock valued at $2,762,581,000 after acquiring an additional 317,002 shares during the last quarter. Dodge & Cox raised its holdings in LPL Financial by 18.6% in the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after purchasing an additional 619,715 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in LPL Financial by 14.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after purchasing an additional 477,094 shares during the period. Capital World Investors boosted its position in shares of LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after purchasing an additional 996,806 shares in the last quarter. Finally, Lone Pine Capital LLC grew its holdings in shares of LPL Financial by 20.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider’s stock valued at $750,453,000 after buying an additional 383,466 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 1,110 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total transaction of $366,311.10. Following the completion of the transaction, the chief financial officer owned 19,803 shares in the company, valued at approximately $6,535,188.03. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $304.50 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. The stock’s 50-day moving average is $302.25 and its 200-day moving average is $328.52. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.LPL Financial’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period last year, the company earned $5.15 earnings per share. Equities analysts predict that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.30 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is 10.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley dropped their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. UBS Group raised their price target on LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, Citizens Jmp reissued a “market outperform” rating and set a $500.00 target price on shares of LPL Financial in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $398.86.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.