TD Private Client Wealth LLC Sells 3,932 Shares of LPL Financial Holdings Inc. $LPLA

TD Private Client Wealth LLC trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 29.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,523 shares of the financial services provider’s stock after selling 3,932 shares during the quarter. TD Private Client Wealth LLC’s holdings in LPL Financial were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the 2nd quarter worth $26,000. Chung Wu Investment Group LLC bought a new position in LPL Financial in the 3rd quarter worth $27,000. Steigerwald Gordon & Koch Inc. raised its holdings in LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 66 shares during the period. Westside Investment Management Inc. bought a new position in LPL Financial in the 3rd quarter worth $34,000. Finally, Graney & King LLC raised its holdings in LPL Financial by 49.5% in the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 46 shares during the period. 95.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LPLA shares. Jefferies Financial Group decreased their target price on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays raised their target price on LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group raised their target price on LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Morgan Stanley decreased their target price on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $398.86.

LPL Financial Price Performance

NASDAQ:LPLA opened at $295.62 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. The business’s 50-day simple moving average is $307.34 and its two-hundred day simple moving average is $340.43. The stock has a market cap of $23.64 billion, a PE ratio of 26.39, a P/E/G ratio of 0.62 and a beta of 0.57. LPL Financial Holdings Inc. has a 52 week low of $281.51 and a 52 week high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The business’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.15 earnings per share. As a group, analysts forecast that LPL Financial Holdings Inc. will post 22.98 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is presently 10.71%.

Insider Activity

In other news, CFO Matthew J. Audette sold 1,581 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.50, for a total transaction of $506,710.50. Following the completion of the transaction, the chief financial officer owned 21,382 shares in the company, valued at $6,852,931. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew Enyedi sold 2,109 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $320.15, for a total value of $675,196.35. Following the transaction, the director owned 14,121 shares of the company’s stock, valued at approximately $4,520,838.15. The trade was a 12.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,569 shares of company stock worth $2,720,733 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

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.