LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by First Hawaiian Bank

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First Hawaiian Bank cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 18.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,961 shares of the financial services provider’s stock after selling 437 shares during the period. First Hawaiian Bank’s holdings in LPL Financial were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LPLA. Allspring Global Investments Holdings LLC acquired a new stake in shares of LPL Financial during the fourth quarter valued at about $313,205,000. JPMorgan Chase & Co. boosted its stake in shares of LPL Financial by 313.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,325,082 shares of the financial services provider’s stock valued at $212,133,000 after purchasing an additional 1,004,582 shares during the period. Darlington Partners Capital Management LP purchased a new position in shares of LPL Financial in the fourth quarter valued at approximately $148,343,000. abrdn plc purchased a new position in shares of LPL Financial in the fourth quarter valued at approximately $111,468,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of LPL Financial by 31.6% in the third quarter. Bank of New York Mellon Corp now owns 1,477,203 shares of the financial services provider’s stock valued at $231,565,000 after purchasing an additional 355,040 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.

LPLA stock opened at $177.78 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. LPL Financial Holdings Inc. has a twelve month low of $127.03 and a twelve month high of $220.80. The company’s 50 day moving average is $189.62 and its two-hundred day moving average is $179.31. The stock has a market cap of $14.22 billion, a P/E ratio of 31.30, a PEG ratio of 0.53 and a beta of 0.95.

LPL Financial (NASDAQ:LPLAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.95 earnings per share 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 company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company earned $1.77 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 9.69 earnings per share for the current year.

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

Several research analysts have recently commented on LPLA shares. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Morgan Stanley raised their price objective 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. Truist Financial lifted their price target on shares of LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. Citigroup lifted their price target on shares of LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. Finally, JMP Securities upgraded shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target for the company in a research note on Thursday, April 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $228.86.

In other news, CEO Dan H. Arnold sold 19,508 shares of LPL Financial stock in a transaction on Friday, May 27th. The shares were sold at an average price of $200.36, for a total value of $3,908,622.88. Following the transaction, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at approximately $32,580,138.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michelle Oroschakoff sold 15,724 shares of LPL Financial 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 completion of the transaction, the director now directly owns 42,068 shares in the company, valued at $7,245,371.64. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.

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