TD Asset Management Inc. Reduces Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

TD Asset Management Inc. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 841,219 shares of the financial services provider’s stock after selling 65,394 shares during the quarter. TD Asset Management Inc.’s holdings in LPL Financial were worth $274,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. Brooklyn Investment Group acquired a new stake in shares of LPL Financial in the third quarter valued at about $43,000. Jones Financial Companies Lllp raised its holdings in LPL Financial by 45.3% in the 4th 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 acquired a new stake in LPL Financial in the 4th quarter valued at about $59,000. Compass Financial Services Inc purchased a new position in LPL Financial in the 4th quarter worth approximately $65,000. Finally, R Squared Ltd acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $78,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

Shares of LPLA stock opened at $341.74 on Tuesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. 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 firm’s 50 day moving average price is $352.24 and its 200-day moving average price is $308.94. The firm has a market cap of $25.52 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on LPLA. Barclays increased their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Citigroup upped their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Company Profile

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.