Toronto Dominion Bank Sells 36,858 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Toronto Dominion Bank decreased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 79.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,774 shares of the financial services provider's stock after selling 36,858 shares during the quarter. Toronto Dominion Bank's holdings in LPL Financial were worth $3,191,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LPLA. Graney & King LLC bought a new stake in LPL Financial during the fourth quarter valued at $30,000. Itau Unibanco Holding S.A. bought a new stake in LPL Financial during the fourth quarter valued at $42,000. Jones Financial Companies Lllp boosted its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Atala Financial Inc bought a new stake in LPL Financial during the fourth quarter valued at $59,000. Finally, Compass Financial Services Inc bought a new stake in LPL Financial during the fourth quarter valued at $65,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of LPLA stock opened at $377.40 on Friday. The firm has a market capitalization of $30.18 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The firm has a fifty day simple moving average of $330.99 and a two-hundred day simple moving average of $335.95. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter last year, the firm earned $3.83 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial's payout ratio is 8.30%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley upped their price target on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company cut their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, Barclays increased their price objective on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $377.50.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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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