Toronto Dominion Bank Has $10.85 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Toronto Dominion Bank lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 47.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,632 shares of the financial services provider's stock after selling 42,321 shares during the quarter. Toronto Dominion Bank owned 0.06% of LPL Financial worth $10,848,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the 2nd quarter valued at $25,000. Key Financial Inc bought a new position in LPL Financial during the second quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in LPL Financial during the third quarter valued at approximately $31,000. Paladin Wealth LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $34,000. Finally, Crewe Advisors LLC raised its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock worth $36,000 after buying an additional 101 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by company insiders.

LPL Financial Trading Up 0.0 %

NASDAQ LPLA traded up $0.13 during trading on Friday, reaching $330.23. 299,395 shares of the stock traded hands, compared to its average volume of 719,808. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $334.38. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The stock's 50-day moving average price is $293.80 and its 200 day moving average price is $258.97.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion during 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%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.74 EPS. Analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial's dividend payout ratio is presently 9.02%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Cowen increased their price objective on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group cut their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and an average price target of $305.17.

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.