LPL Financial Holdings Inc. $LPLA Stock Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,136 shares of the financial services provider’s stock after selling 2,617 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in LPL Financial were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LPLA. BlackRock Inc. purchased a new stake in LPL Financial in the second quarter valued at about $1,333,189,000. Jupiter Topco LLC purchased a new stake in shares of LPL Financial during the second quarter worth about $1,182,595,000. SurgoCap Partners LP purchased a new stake in shares of LPL Financial during the second quarter worth about $299,487,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of LPL Financial during the second quarter valued at about $290,481,000. Finally, Bank of America Corp DE acquired a new position in shares of LPL Financial during the second quarter valued at about $229,756,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other news, insider Katharine Reeping sold 440 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the sale, the insider owned 1,774 shares in the company, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the transaction, the director directly owned 6,107 shares of the company’s stock, valued at approximately $2,182,397.52. This trade represents a 4.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 5,867 shares of company stock valued at $2,079,664. 0.60% of the stock is currently owned by insiders.

LPL Financial Trading Down 0.3%

LPL Financial stock opened at $321.03 on Thursday. The stock has a 50-day moving average price of $339.32 and a 200 day moving average price of $320.67. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company earned $4.51 EPS. LPL Financial’s quarterly revenue was up 35.2% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 23.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LPLA shares. Morgan Stanley increased their price objective on shares of LPL Financial from $387.00 to $393.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Bank of America dropped their target price on shares of LPL Financial from $557.00 to $554.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Barclays raised their price target on shares of LPL Financial from $401.00 to $409.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $428.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $409.69.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.