First Hawaiian Bank Lowers Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Posted by on Jun 24th, 2022

First Hawaiian Bank lessened its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,961 shares of the financial services provider’s stock after selling 437 shares during the quarter. First Hawaiian Bank’s holdings in LPL Financial were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFO TDC LLC bought a new position in shares of LPL Financial during the 4th quarter worth approximately $44,000. Steward Partners Investment Advisory LLC raised its stake in shares of LPL Financial by 235.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 285 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Covestor Ltd acquired a new position in LPL Financial during the 4th quarter valued at approximately $47,000. CWM LLC acquired a new position in LPL Financial during the 4th quarter valued at approximately $60,000. Finally, Spire Wealth Management increased its stake in LPL Financial by 138.4% during the 4th quarter. Spire Wealth Management now owns 379 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

LPLA stock opened at $177.78 on Friday. The firm’s fifty day simple moving average is $189.62 and its 200-day simple moving average is $179.31. LPL Financial Holdings Inc. has a 12 month low of $127.03 and a 12 month high of $220.80. The company has a market capitalization of $14.22 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 0.53 and a beta of 0.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.83 and a quick ratio of 1.83.

LPL Financial (NASDAQ:LPLA – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.16. LPL Financial had a net margin of 5.74% and a return on equity of 35.82%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 9.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Thursday, June 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, June 8th. LPL Financial’s dividend payout ratio (DPR) is presently 17.61%.

A number of research analysts have issued reports on LPLA shares. Citigroup upped their price target on shares of LPL Financial from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 14th. Morgan Stanley upped their price target on shares of LPL Financial from $246.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, April 13th. JMP Securities upgraded shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target on the stock in a research note on Thursday, April 7th. Truist Financial upped their price target on shares of LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $228.86.

In other LPL Financial news, Director Michelle Oroschakoff sold 15,724 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $172.23, for a total transaction of $2,708,144.52. Following the transaction, the director now directly owns 42,068 shares of the company’s stock, valued at $7,245,371.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dan H. Arnold sold 19,508 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the transaction, the chief executive officer now directly owns 162,608 shares in the company, valued at $32,580,138.88. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

LPL Financial Company Profile (Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

See Also

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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