Central Pacific Bank Trust Division Has $1.31 Million Stock Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Central Pacific Bank Trust Division increased its stock holdings in LPL Financial Holdings Inc. by 45.5% in Q2, now owning 3,487 shares valued at approximately $1.31 million.
• Analysts have given LPL Financial a consensus rating of "Moderate Buy", with ten analysts rating it as a Buy, one as Hold, and one as Sell, alongside a consensus price target of $391.67.
• LPL Financial reported strong Q2 earnings with an EPS of $4.51, exceeding estimates, and has announced a quarterly dividend of $0.30 per share.

Central Pacific Bank Trust Division boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 45.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,487 shares of the financial services provider's stock after purchasing an additional 1,090 shares during the period. Central Pacific Bank Trust Division's holdings in LPL Financial were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs acquired a new position in LPL Financial during the 1st quarter worth about $1,041,000. Voya Investment Management LLC lifted its position in shares of LPL Financial by 4.9% during the first quarter. Voya Investment Management LLC now owns 34,733 shares of the financial services provider's stock worth $11,363,000 after purchasing an additional 1,611 shares in the last quarter. Compass Financial Services Inc grew its stake in shares of LPL Financial by 14.5% during the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 29 shares during the last quarter. Strs Ohio acquired a new stake in shares of LPL Financial in the first quarter valued at approximately $1,360,000. Finally, Siren L.L.C. bought a new position in LPL Financial in the 1st quarter worth approximately $2,454,000. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LPLA shares. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Barclays dropped their price objective on LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a report on Tuesday, September 2nd. Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $391.67.

Insider Transactions at LPL Financial

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

LPL Financial Trading Up 0.8%

Shares of NASDAQ LPLA opened at $350.64 on Friday. LPL Financial Holdings Inc. has a twelve month low of $205.50 and a twelve month high of $403.58. The stock has a market cap of $28.05 billion, a price-to-earnings ratio of 23.98, a P/E/G 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. The company's fifty day moving average is $367.68 and its 200-day moving average is $353.98.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given 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 currently 8.21%.

LPL Financial 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.

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