First Hawaiian Bank Has $1.47 Million Position in LPL Financial Holdings Inc. $LPLA

Key Points

• First Hawaiian Bank reduced its stake in LPL Financial Holdings by 15.3%, now owning approximately $1.47 million worth of shares after selling 811 shares in Q1.
• Director Aneri Jambusaria sold 80 shares for $28,900, and director Greg Gates sold 1,500 shares for $507,315, indicating recent insider selling activity.
• LPL Financial reported earnings of $4.51 per share for the latest quarter, exceeding analyst predictions, with revenue of $3.84 billion, a 30.8% year-over-year increase.

First Hawaiian Bank lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 15.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,482 shares of the financial services provider's stock after selling 811 shares during the period. First Hawaiian Bank's holdings in LPL Financial were worth $1,466,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in LPL Financial by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock worth $2,411,956,000 after buying an additional 154,200 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider's stock valued at $877,264,000 after purchasing an additional 20,881 shares in the last quarter. Dodge & Cox raised its position in 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 purchasing an additional 1,053,351 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in LPL Financial by 35.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider's stock worth $495,964,000 after purchasing an additional 400,352 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock worth $426,846,000 after purchasing an additional 105,665 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director directly owned 17,620 shares of the company's stock, valued at approximately $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock valued at $1,671,235 in the last three months. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on LPLA. Morgan Stanley reaffirmed an "overweight" rating and issued a $490.00 target price (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. The Goldman Sachs Group began coverage on shares of LPL Financial in a research report on Friday. They issued a "buy" rating and a $405.00 price objective for the company. Barclays decreased their price objective on LPL Financial from $463.00 to $460.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 2nd. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $391.67.

LPL Financial Trading Up 0.8%

Shares of NASDAQ LPLA opened at $350.64 on Friday. 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 Holdings Inc. has a twelve month low of $205.50 and a twelve month high of $403.58. The company's fifty day moving average is $367.68 and its 200-day moving average is $353.98. 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.

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

LPL Financial Dividend Announcement

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

About LPL Financial

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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