LPL Financial Holdings Inc. $LPLA Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 40.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,405 shares of the financial services provider’s stock after buying an additional 5,572 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in LPL Financial were worth $6,107,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LPLA. Cullen Frost Bankers Inc. boosted its position in shares of LPL Financial by 9.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 27 shares in the last quarter. Camden National Bank boosted its holdings in LPL Financial by 3.1% in the second quarter. Camden National Bank now owns 967 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 29 shares in the last quarter. Perennial Investment Advisors LLC boosted its holdings in LPL Financial by 4.0% in the second quarter. Perennial Investment Advisors LLC now owns 804 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 31 shares in the last quarter. Magnolia Private Wealth LLC increased its stake in LPL Financial by 2.0% in the second quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 33 shares during the last quarter. Finally, PUREfi Wealth LLC raised its holdings in LPL Financial by 4.7% during the third quarter. PUREfi Wealth LLC now owns 732 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 33 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

NASDAQ LPLA opened at $361.93 on Monday. The firm has a market cap of $28.97 billion, a P/E ratio of 33.33, a P/E/G ratio of 0.78 and a beta of 0.57. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The business’s 50-day moving average price is $365.08 and its 200 day moving average price is $358.51. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period last year, the firm earned $4.16 EPS. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the sale, the director owned 5,502 shares in the company, valued at approximately $1,939,344.96. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg Gates sold 750 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.97, for a total transaction of $278,227.50. Following the transaction, the director owned 14,620 shares in the company, valued at approximately $5,423,581.40. This trade represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,388 shares of company stock valued at $2,747,538 over the last three months. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating for the company in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. Wolfe Research set a $486.00 price objective on LPL Financial in a report on Wednesday, January 7th. Barclays cut their target price on LPL Financial from $453.00 to $444.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Finally, UBS Group reissued a “neutral” rating and issued a $406.00 target price on shares of LPL Financial in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $429.07.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.