TD Waterhouse Canada Inc. Sells 2,617 Shares of LPL Financial Holdings Inc. $LPLA

TD Waterhouse Canada Inc. decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,136 shares of the financial services provider’s stock after selling 2,617 shares during the period. TD Waterhouse Canada Inc.’s holdings in LPL Financial were worth $1,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its stake in shares of LPL Financial by 2.5% during the third quarter. V Square Quantitative Management LLC now owns 1,459 shares of the financial services provider’s stock valued at $446,000 after buying an additional 36 shares during the period. Krilogy Financial LLC purchased a new stake in LPL Financial in the third quarter worth about $307,000. Valley Wealth Managers Inc. lifted its stake in LPL Financial by 5.7% in the third quarter. Valley Wealth Managers Inc. now owns 2,465 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 132 shares during the period. Wedmont Private Capital grew its holdings in LPL Financial by 49.3% during the 3rd quarter. Wedmont Private Capital now owns 2,320 shares of the financial services provider’s stock worth $761,000 after acquiring an additional 766 shares in the last quarter. Finally, WoodTrust Financial Corp bought a new position in LPL Financial during the 3rd quarter worth about $215,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $321.03 on Thursday. The stock’s 50-day moving average is $339.32 and its 200 day moving average is $320.67. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market cap of $25.28 billion, a P/E ratio of 25.60, a PEG ratio of 0.55 and a beta of 0.53.

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

Insider Activity

In related news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katharine Reeping sold 440 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $347.88, for a total transaction of $153,067.20. Following the sale, the insider directly owned 1,774 shares of the company’s stock, valued at $617,139.12. The trade was a 19.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,867 shares of company stock valued at $2,079,664 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of LPL Financial in a report on Monday, October 5th. Capital One Financial set a $370.00 price objective on shares of LPL Financial in a research note on Tuesday, October 6th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $428.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Bank of America cut their price objective on shares of LPL Financial from $557.00 to $554.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, BMO Capital Markets reduced their price objective on shares of LPL Financial from $390.00 to $370.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.