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

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

A number of other institutional investors have also recently added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the third quarter valued at $31,000. Paladin Wealth LLC bought a new position in LPL Financial during the 3rd quarter worth $34,000. Brooklyn Investment Group acquired a new position in LPL Financial during the 3rd quarter worth about $43,000. Finally, First Horizon Advisors Inc. grew its position in shares of LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after buying an additional 94 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Morgan Stanley raised their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $345.17.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $333.42 on Thursday. The business has a 50-day simple moving average of $319.81 and a 200 day simple moving average of $264.48. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $344.86. 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 firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 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 firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $3.74 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

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.