Central Pacific Bank Trust Division Has $184,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Central Pacific Bank Trust Division boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 129.3% during the fourth quarter, Holdings Channel reports. The fund owned 564 shares of the financial services provider’s stock after acquiring an additional 318 shares during the period. Central Pacific Bank Trust Division’s holdings in LPL Financial were worth $184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of LPL Financial by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after buying an additional 36,474 shares during the period. JPMorgan Chase & Co. raised its position in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Finally, Samlyn Capital LLC lifted its stake in shares of LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after acquiring an additional 88,635 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the subject of a number of research reports. Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JMP Securities reiterated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, Morgan Stanley increased their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $322.75.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 1.6 %

NASDAQ:LPLA opened at $333.09 on Friday. The business’s 50-day simple moving average is $316.97 and its 200-day simple moving average is $263.88. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $336.40. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $24.94 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company earned $3.74 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s dividend payout ratio is 9.02%.

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.