Eminence Capital LP Has $182.40 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Eminence Capital LP reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 48.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 558,647 shares of the financial services provider's stock after selling 519,462 shares during the quarter. LPL Financial accounts for 2.8% of Eminence Capital LP's portfolio, making the stock its 11th largest position. Eminence Capital LP owned about 0.75% of LPL Financial worth $182,404,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LPLA. Graney & King LLC acquired a new position in shares of LPL Financial during the fourth quarter valued at approximately $30,000. Itau Unibanco Holding S.A. acquired a new position in shares of LPL Financial during the 4th quarter valued at $42,000. Jones Financial Companies Lllp raised its stake in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after buying an additional 43 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of LPL Financial in the fourth quarter valued at $59,000. Finally, Compass Financial Services Inc bought a new position in LPL Financial during the fourth quarter valued at about $65,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Up 6.3 %

Shares of LPLA traded up $21.43 during trading hours on Friday, reaching $360.42. The company's stock had a trading volume of 1,110,507 shares, compared to its average volume of 828,527. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $28.60 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 0.94 and a beta of 0.65. The company has a 50 day moving average of $320.64 and a two-hundred day moving average of $328.89. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial's dividend payout ratio (DPR) is currently 8.55%.

Insiders Place Their Bets

In other news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup reduced their target price on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Barclays reduced their price objective on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $371.50.

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.