Whittier Trust Co. of Nevada Inc. Has $5.19 Million Holdings in LPL Financial Holdings Inc. $LPLA

Whittier Trust Co. of Nevada Inc. lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,833 shares of the financial services provider’s stock after purchasing an additional 416 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in LPL Financial were worth $5,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in LPL Financial during the 1st quarter worth $26,000. Millstone Evans Group LLC lifted its position in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 48 shares during the last quarter. Bayforest Capital Ltd acquired a new position in LPL Financial during the 2nd quarter worth $34,000. Maseco LLP acquired a new position in LPL Financial during the 2nd quarter worth $34,000. Finally, Private Trust Co. NA lifted its position in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $338.18 on Wednesday. The stock has a market cap of $27.05 billion, a P/E ratio of 23.13, a PEG ratio of 0.79 and a beta of 0.61. The company’s 50-day simple moving average is $341.46 and its 200 day simple moving average is $353.61. LPL Financial Holdings Inc. has a twelve month low of $252.55 and a twelve month high of $403.58. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.88 earnings per share. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s payout ratio is presently 8.21%.

Analyst Ratings Changes

A number of research firms have weighed in on LPLA. Barclays cut their target price on shares of LPL Financial from $460.00 to $411.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LPL Financial in a research report on Wednesday, October 8th. Finally, TD Cowen lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating and cut their price objective for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $398.38.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Gates sold 750 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the completion of the sale, the director directly owned 16,870 shares in the company, valued at approximately $5,304,265.40. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,830 shares of company stock worth $1,333,105. 0.70% of the stock is currently owned by insiders.

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.