Toronto Dominion Bank lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,082 shares of the financial services provider’s stock after buying an additional 6,264 shares during the period. Toronto Dominion Bank’s holdings in LPL Financial were worth $4,987,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. U.S. Capital Wealth Advisors LLC acquired a new position in LPL Financial during the fourth quarter worth $32,000. Ronald Blue Trust Inc. boosted its stake in shares of LPL Financial by 958.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 180 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the period. Fred Alger Management LLC acquired a new position in shares of LPL Financial during the 3rd quarter worth approximately $44,000. Benjamin Edwards Inc. raised its stake in LPL Financial by 22.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 41 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in LPL Financial during the 1st quarter valued at $58,000. Institutional investors and hedge funds own 94.89% of the company’s stock.
LPL Financial Stock Up 1.2 %
Shares of LPLA opened at $193.15 on Tuesday. LPL Financial Holdings Inc. has a 52 week low of $165.47 and a 52 week high of $271.56. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.35 and a beta of 0.90. The stock has a fifty day moving average of $208.61 and a 200-day moving average of $224.19.
LPL Financial Announces Dividend
Insider Buying and Selling
In related news, Director William Francis Glavin, Jr. bought 557 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $180.23 per share, with a total value of $100,388.11. Following the acquisition, the director now owns 2,775 shares of the company’s stock, valued at $500,138.25. The purchase was disclosed in a filing with the SEC, which is available through this link. In other LPL Financial news, Director Michelle Oroschakoff sold 4,809 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $246.18, for a total value of $1,183,879.62. Following the completion of the sale, the director now owns 23,852 shares of the company’s stock, valued at $5,871,885.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Francis Glavin, Jr. bought 557 shares of the stock in a transaction dated Thursday, May 4th. The shares were purchased at an average cost of $180.23 per share, for a total transaction of $100,388.11. Following the completion of the transaction, the director now directly owns 2,775 shares of the company’s stock, valued at $500,138.25. The disclosure for this purchase can be found here. Insiders have sold a total of 70,883 shares of company stock valued at $17,361,622 over the last 90 days. 1.30% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
LPLA has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of LPL Financial from $244.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 11th. Citigroup lowered their price objective on LPL Financial from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. UBS Group cut their price objective on shares of LPL Financial from $215.00 to $210.00 in a research report on Friday, April 28th. StockNews.com assumed coverage on shares of LPL Financial in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of LPL Financial from $256.00 to $238.00 and set a “neutral” rating on the stock in a research report on Monday, April 3rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $234.75.
About LPL Financial
LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
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