Whittier Trust Co. Purchases 10,085 Shares of LPL Financial Holdings Inc. $LPLA

Whittier Trust Co. grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 40.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,161 shares of the financial services provider’s stock after buying an additional 10,085 shares during the quarter. Whittier Trust Co.’s holdings in LPL Financial were worth $11,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the 2nd quarter worth about $26,000. SBI Securities Co. Ltd. grew its position in shares of LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of LPL Financial by 912.5% in the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the period. Eastern Bank boosted its stake in LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock valued at $29,000 after buying an additional 36 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in LPL Financial during the second quarter worth about $34,000. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Richard Steinmeier sold 5,058 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 9,326 shares of the company’s stock, valued at approximately $3,459,852.74. This trade represents a 35.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 7,388 shares of company stock valued at $2,747,538. Corporate insiders own 0.70% of the company’s stock.

LPL Financial Stock Down 4.3%

Shares of LPL Financial stock opened at $361.93 on Monday. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The company’s fifty day simple moving average is $365.08 and its two-hundred day simple moving average is $358.51. The company has a market cap of $28.97 billion, a P/E ratio of 33.33, a PEG ratio of 0.78 and a beta of 0.57.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered 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 note on Monday, December 22nd. Wolfe Research set a $486.00 price target on LPL Financial in a research report on Wednesday, January 7th. Barclays decreased their price objective on LPL Financial from $453.00 to $444.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of LPL Financial from $440.00 to $433.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Citigroup reiterated an “outperform” rating on shares of LPL Financial in a 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 company. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $429.07.

LPL Financial Company Profile

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.