Whittier Trust Co. of Nevada Inc. Grows Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,965 shares of the financial services provider’s stock after acquiring an additional 633 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in LPL Financial were worth $4,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mutual of America Capital Management LLC raised its holdings in LPL Financial by 23.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 821 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in LPL Financial in the third quarter worth about $735,000. PNC Financial Services Group Inc. raised its stake in LPL Financial by 11.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,988 shares of the financial services provider’s stock worth $928,000 after buying an additional 423 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after buying an additional 42 shares during the period. Finally, Jennison Associates LLC boosted its position in LPL Financial by 46.0% during the 3rd quarter. Jennison Associates LLC now owns 94,850 shares of the financial services provider’s stock valued at $22,065,000 after acquiring an additional 29,895 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPLA stock opened at $327.90 on Friday. The stock has a market capitalization of $24.49 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The stock’s 50 day simple moving average is $351.95 and its 200 day simple moving average is $306.82. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock valued at $12,562,070 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on LPLA shares. Morgan Stanley raised their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Barclays increased their price target on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup boosted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $379.17.

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.