Huntington National Bank Acquires 314 Shares of LPL Financial Holdings Inc. $LPLA

Huntington National Bank lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 135.3% in the 2nd quarter, Holdings Channel reports. The firm owned 546 shares of the financial services provider’s stock after buying an additional 314 shares during the quarter. Huntington National Bank’s holdings in LPL Financial were worth $205,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after purchasing an additional 105,665 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of LPL Financial by 198.3% in the first quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider’s stock worth $2,125,000 after buying an additional 4,319 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LPL Financial by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock worth $115,808,000 after buying an additional 18,252 shares during the last quarter. FORA Capital LLC bought a new stake in shares of LPL Financial during the 1st quarter worth $1,728,000. Finally, Private Trust Co. NA grew its stake in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after buying an additional 68 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

NASDAQ:LPLA opened at $373.50 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.22 and a current ratio of 2.60. The company has a 50-day moving average of $340.79 and a 200-day moving average of $358.40. LPL Financial Holdings Inc. has a 52 week low of $262.83 and a 52 week high of $403.58. The company has a market capitalization of $29.89 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 0.83 and a beta of 0.63.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.16 earnings per share. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is presently 11.05%.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director owned 17,620 shares in the company, valued at $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,830 shares of company stock valued at $1,336,675 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Rothschild & Co Redburn cut LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. JMP Securities set a $475.00 price target on LPL Financial in a research report on Friday, October 31st. Finally, Wells Fargo & Company increased their price objective on LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $429.00.

LPL Financial Company Profile

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.