Whittier Trust Co. of Nevada Inc. Purchases 416 Shares of LPL Financial Holdings Inc. $LPLA

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

Several other large investors have also recently added to or reduced their stakes in LPLA. Dodge & Cox grew its stake in LPL Financial by 224.1% during the first quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock worth $498,385,000 after buying an additional 1,053,351 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of LPL Financial by 1,453.3% during the first quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider’s stock worth $339,795,000 after purchasing an additional 971,814 shares in the last quarter. Jennison Associates LLC lifted its position in shares of LPL Financial by 786.2% during the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider’s stock worth $313,849,000 after purchasing an additional 851,115 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of LPL Financial by 550.5% during the first quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider’s stock worth $248,367,000 after purchasing an additional 642,503 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its position in shares of LPL Financial by 238.1% during the first quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider’s stock worth $285,026,000 after purchasing an additional 613,555 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Down 0.5%

Shares of NASDAQ LPLA opened at $338.18 on Wednesday. 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 fifty-two week low of $252.55 and a fifty-two week high of $403.58. The firm has a market capitalization of $27.05 billion, a P/E ratio of 23.13, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the business posted $3.88 earnings per share. LPL Financial’s revenue was up 30.8% compared to the same quarter last year. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LPLA. UBS Group set a $455.00 target price on shares of LPL Financial in a research report on Thursday, October 9th. Rothschild Redb lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. TD Cowen lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating and reduced their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. The Goldman Sachs Group began coverage on shares of LPL Financial in a research report on Friday, September 12th. They set a “buy” rating and a $405.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $398.38.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction on 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 directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the sale, the director owned 17,620 shares in the company, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock worth $1,333,105 over the last 90 days. 0.70% of the stock is currently owned by company 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.