TD Asset Management Inc. Cuts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

TD Asset Management Inc. decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 841,219 shares of the financial services provider’s stock after selling 65,394 shares during the period. TD Asset Management Inc. owned 1.12% of LPL Financial worth $274,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of LPL Financial during the 4th quarter valued at $8,522,000. Sei Investments Co. increased its position in LPL Financial by 32.0% during the 4th quarter. Sei Investments Co. now owns 115,732 shares of the financial services provider’s stock valued at $37,789,000 after buying an additional 28,072 shares in the last quarter. American Century Companies Inc. raised its stake in LPL Financial by 3.3% in the fourth quarter. American Century Companies Inc. now owns 489,580 shares of the financial services provider’s stock valued at $159,853,000 after buying an additional 15,554 shares during the last quarter. Virtu Financial LLC acquired a new stake in LPL Financial in the fourth quarter worth about $260,000. Finally, TD Private Client Wealth LLC boosted its holdings in LPL Financial by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 12,592 shares of the financial services provider’s stock worth $4,111,000 after acquiring an additional 513 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 4.2 %

LPL Financial stock opened at $341.74 on Tuesday. The firm has a market cap of $25.52 billion, a PE ratio of 24.34, a P/E/G ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The stock’s 50 day simple moving average is $352.24 and its two-hundred day simple moving average is $308.94. 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 (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Wall Street Analyst Weigh In

LPLA has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group boosted their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Barclays lifted their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

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.