First Hawaiian Bank Acquires 1,715 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

First Hawaiian Bank lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 47.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,293 shares of the financial services provider’s stock after acquiring an additional 1,715 shares during the quarter. First Hawaiian Bank’s holdings in LPL Financial were worth $1,728,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in LPL Financial by 50.6% during the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 5,320 shares during the period. Rockefeller Capital Management L.P. acquired a new position in LPL Financial in the 3rd quarter valued at about $2,633,000. Principal Financial Group Inc. raised its holdings in LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after acquiring an additional 3,444 shares during the period. JPMorgan Chase & Co. lifted its position in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of LPL Financial by 98.9% during the third quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 3,809 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $333.42 on Thursday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $344.86. The stock has a market capitalization of $24.97 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company’s 50 day simple moving average is $319.81 and its 200 day simple moving average is $264.48.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the company posted $3.74 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LPLA. Jefferies Financial Group lowered their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. UBS Group raised LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price for the company in a report on Monday. Citigroup boosted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $288.00 to $397.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $345.17.

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.