Central Pacific Bank Trust Division Buys 1,090 Shares of LPL Financial Holdings Inc. $LPLA

Central Pacific Bank Trust Division lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 45.5% during the second quarter, HoldingsChannel reports. The firm owned 3,487 shares of the financial services provider’s stock after acquiring an additional 1,090 shares during the quarter. Central Pacific Bank Trust Division’s holdings in LPL Financial were worth $1,308,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock valued at $498,385,000 after acquiring an additional 1,053,351 shares during the period. Principal Financial Group Inc. lifted its stake in LPL Financial by 1,453.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider’s stock valued at $339,795,000 after purchasing an additional 971,814 shares during the last quarter. Jennison Associates LLC grew its holdings in LPL Financial by 786.2% during the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider’s stock worth $313,849,000 after purchasing an additional 851,115 shares during the period. Alliancebernstein L.P. increased its position in LPL Financial by 550.5% during the first quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider’s stock worth $248,367,000 after buying an additional 642,503 shares during the last quarter. Finally, Egerton Capital UK LLP raised its stake in LPL Financial by 238.1% in the first quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider’s stock valued at $285,026,000 after buying an additional 613,555 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. TD Cowen downgraded LPL Financial from a “strong-buy” rating to a “hold” rating and reduced their target price for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Redburn Atlantic raised shares of LPL Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Wall Street Zen lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Barclays reduced their target price on shares of LPL Financial from $463.00 to $460.00 and set an “overweight” rating for the company in a report on Tuesday, September 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $391.67.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $350.64 on Friday. LPL Financial Holdings Inc. has a 12-month low of $205.50 and a 12-month high of $403.58. The company’s 50 day moving average price is $367.68 and its two-hundred day moving average price is $353.98. The firm has a market cap of $28.05 billion, a PE ratio of 23.98, a PEG ratio of 0.81 and a beta of 0.66. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.88 earnings per share. Equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial’s dividend payout ratio is 8.21%.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director directly owned 19,120 shares of the company’s stock, valued at $7,151,836. This represents a 7.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock worth $1,671,235 in the last 90 days. 1.30% of the stock is owned by company insiders.

LPL Financial Company 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.