LPL Financial Holdings Inc. $LPLA Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,192 shares of the financial services provider’s stock after selling 58,510 shares during the period. TD Asset Management Inc’s holdings in LPL Financial were worth $226,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Stratos Investment Management LLC boosted its stake in shares of LPL Financial by 4.2% in the third quarter. Stratos Investment Management LLC now owns 715 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 29 shares during the last quarter. Goldstein Advisors LLC boosted its stake in shares of LPL Financial by 4.8% in the fourth quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 29 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of LPL Financial by 4.1% in the fourth quarter. Frank Rimerman Advisors LLC now owns 785 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 31 shares during the last quarter. Natural Investments LLC boosted its stake in shares of LPL Financial by 4.8% in the fourth quarter. Natural Investments LLC now owns 727 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 33 shares during the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of LPL Financial by 1.4% in the fourth quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 33 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other LPL Financial news, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the transaction, the chief financial officer directly owned 19,803 shares in the company, valued at $6,535,188.03. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Eliot Cohen sold 2,212 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $308.75, for a total transaction of $682,955.00. Following the completion of the transaction, the director directly owned 5,488 shares in the company, valued at $1,694,420. The trade was a 28.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,879 shares of company stock worth $1,538,826 over the last quarter. 0.60% of the stock is currently owned by company insiders.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $282.67 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.56 and a beta of 0.50. The company’s 50-day moving average is $303.20 and its two-hundred day moving average is $332.81. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.11. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. LPL Financial’s revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the business posted $5.15 EPS. Analysts forecast that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, May 21st. LPL Financial’s payout ratio is presently 10.71%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. William Blair restated an “outperform” rating on shares of LPL Financial in a report on Thursday. JPMorgan Chase & Co. lowered their target price on LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Citizens Jmp restated a “market outperform” rating and set a $500.00 target price on shares of LPL Financial in a report on Monday, April 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average target price of $398.86.

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.