Whittier Trust Co. Buys 1,026 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Whittier Trust Co. increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,784 shares of the financial services provider’s stock after acquiring an additional 1,026 shares during the quarter. Whittier Trust Co.’s holdings in LPL Financial were worth $5,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial during the second quarter worth $25,000. Key Financial Inc bought a new position in shares of LPL Financial in the second quarter valued at $28,000. Riverview Trust Co bought a new position in shares of LPL Financial in the first quarter valued at $30,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the third quarter valued at $34,000. Finally, Crewe Advisors LLC lifted its stake in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

LPLA opened at $256.35 on Tuesday. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.32 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $226.76 and a 200-day moving average price of $248.11. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $289.88.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LPLA. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Jefferies Financial Group dropped their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $277.77.

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.