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

First Hawaiian Bank reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,411 shares of the financial services provider’s stock after selling 1,758 shares during the quarter. First Hawaiian Bank’s holdings in LPL Financial were worth $1,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Darlington Partners Capital Management LP boosted its stake in shares of LPL Financial by 9.1% during the 1st quarter. Darlington Partners Capital Management LP now owns 653,266 shares of the financial services provider’s stock worth $132,221,000 after acquiring an additional 54,272 shares in the last quarter. DGS Capital Management LLC lifted its stake in LPL Financial by 14.7% in the 1st quarter. DGS Capital Management LLC now owns 1,315 shares of the financial services provider’s stock valued at $266,000 after buying an additional 169 shares in the last quarter. Prelude Capital Management LLC purchased a new position in LPL Financial in the 1st quarter valued at about $290,000. Toroso Investments LLC lifted its stake in LPL Financial by 8.0% in the 1st quarter. Toroso Investments LLC now owns 3,632 shares of the financial services provider’s stock valued at $735,000 after buying an additional 270 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in LPL Financial by 19.1% in the 1st quarter. Ameriprise Financial Inc. now owns 40,836 shares of the financial services provider’s stock valued at $8,265,000 after buying an additional 6,554 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LPLA shares. Jefferies Financial Group raised their price target on shares of LPL Financial from $246.00 to $253.00 in a research note on Monday, July 10th. Bank of America raised their price target on shares of LPL Financial from $232.00 to $233.00 in a research note on Sunday, July 30th. Citigroup raised their price target on shares of LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, July 28th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 price objective on shares of LPL Financial in a report on Friday, August 18th. Finally, Morgan Stanley boosted their target price on LPL Financial from $238.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has a consensus rating of “Hold” and a consensus target price of $248.60.

LPL Financial Stock Up 1.1 %

LPLA stock opened at $245.49 on Friday. The firm has a market cap of $18.73 billion, a PE ratio of 16.70, a PEG ratio of 0.78 and a beta of 0.92. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.74 and a current ratio of 1.74. The firm’s 50 day moving average price is $230.90 and its 200-day moving average price is $215.00. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $271.56.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $3.94 EPS for the quarter, beating the consensus estimate of $3.87 by $0.07. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. LPL Financial had a net margin of 12.53% and a return on equity of 59.52%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 EPS. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.33 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Thursday, August 10th. LPL Financial’s payout ratio is presently 8.16%.

Insider Activity

In other news, Director Matthew Enyedi sold 3,265 shares of LPL Financial stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $230.86, for a total transaction of $753,757.90. Following the sale, the director now owns 9,978 shares of the company’s stock, valued at approximately $2,303,521.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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, 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.