Whittier Trust Co. Has $11.07 Million Position in LPL Financial Holdings Inc. $LPLA

Whittier Trust Co. boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 40.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,161 shares of the financial services provider’s stock after acquiring an additional 10,085 shares during the quarter. Whittier Trust Co.’s holdings in LPL Financial were worth $11,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of LPL Financial by 2.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 40,891 shares of the financial services provider’s stock worth $13,604,000 after purchasing an additional 1,131 shares during the period. Covestor Ltd grew its position in shares of LPL Financial by 30.4% in the 3rd quarter. Covestor Ltd now owns 343 shares of the financial services provider’s stock valued at $114,000 after buying an additional 80 shares during the last quarter. Tranquility Partners LLC raised its position in shares of LPL Financial by 8.3% during the third quarter. Tranquility Partners LLC now owns 781 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 60 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in LPL Financial during the 3rd quarter valued at approximately $4,963,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of LPL Financial by 84.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,769 shares of the financial services provider’s stock valued at $13,896,000 after purchasing an additional 19,150 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPLA has been the topic of a number of research analyst reports. Wolfe Research set a $486.00 price target on shares of LPL Financial in a research report on Wednesday, January 7th. TD Cowen dropped their price target on LPL Financial from $410.00 to $399.00 and set a “hold” rating on the stock in a research note on Wednesday, January 14th. Morgan Stanley dropped their target price on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $421.00 target price on shares of LPL Financial in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $429.07.

LPL Financial Price Performance

LPLA stock opened at $361.93 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The business has a 50-day simple moving average of $365.08 and a two-hundred day simple moving average of $358.51. The company has a market capitalization of $28.97 billion, a P/E ratio of 33.33, a price-to-earnings-growth 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.

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

Insider Buying and Selling

In related news, CEO Richard Steinmeier sold 5,058 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the transaction, the chief executive officer directly owned 9,326 shares in the company, valued at approximately $3,459,852.74. The trade was a 35.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the transaction, the director directly owned 5,502 shares in the company, valued at approximately $1,939,344.96. This represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 7,388 shares of company stock worth $2,747,538. 0.70% of the stock is owned by insiders.

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.