Whittier Trust Co. of Nevada Inc. Has $2.87 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,332 shares of the financial services provider’s stock after buying an additional 495 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in LPL Financial were worth $2,869,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners lifted its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after acquiring an additional 738,509 shares during the last quarter. TD Asset Management Inc lifted its holdings in LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after purchasing an additional 275,286 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after purchasing an additional 233,242 shares during the period. The Manufacturers Life Insurance Company grew its holdings in LPL Financial by 31.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock valued at $216,227,000 after buying an additional 183,755 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in LPL Financial by 159.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after buying an additional 183,290 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the topic of several research reports. TD Cowen upped their price target on shares of LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. The Goldman Sachs Group decreased their target price on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research report on Tuesday, July 30th. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Finally, UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $277.77.

LPL Financial Trading Down 0.9 %

Shares of LPL Financial stock opened at $256.35 on Tuesday. The firm has a market capitalization of $19.15 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm’s 50 day moving average is $226.76 and its 200 day moving average is $248.11. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business earned $3.94 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts forecast that LPL Financial Holdings Inc. will post 15.79 earnings per share for the current fiscal year.

LPL Financial 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.