Toronto Dominion Bank Decreases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Toronto Dominion Bank decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 47.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 46,632 shares of the financial services provider’s stock after selling 42,321 shares during the period. Toronto Dominion Bank’s holdings in LPL Financial were worth $10,848,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position 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 worth $772,930,000 after acquiring an additional 650,675 shares during the last quarter. Southpoint Capital Advisors LP grew its stake in LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares during the last quarter. Maverick Capital Ltd. boosted its stake in shares of LPL Financial by 82.0% during the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after buying an additional 223,931 shares during the last quarter. Finally, Azora Capital LP grew its position in shares of LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after buying an additional 220,622 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Up 0.0 %

NASDAQ:LPLA opened at $330.23 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $334.38. The business has a fifty day moving average of $293.80 and a 200-day moving average of $258.97. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.61 and a beta of 0.86.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis 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 presently 9.02%.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated 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 approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Citigroup increased their target price on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays boosted their price target on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $305.17.

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.