Clarkston Capital Partners buys $72,362,280 stake in LPL Financial Holdings Inc (LPLA)

LPL Financial Holdings Inc (LPLA) : Clarkston Capital Partners scooped up 2,188,710 additional shares in LPL Financial Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 3,015,095 shares of LPL Financial Holdings Inc which is valued at $72,362,280.LPL Financial Holdings Inc makes up approximately 4.01% of Clarkston Capital Partners’s portfolio.

LPL Financial Holdings Inc closed down -0.44 points or -1.80% at $24 with 8,45,742 shares getting traded on Friday. Post opening the session at $24.34, the shares hit an intraday low of $23.73 and an intraday high of $24.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Cadence Capital Management boosted its stake in LPLA in the latest quarter, The investment management firm added 1,802 additional shares and now holds a total of 15,432 shares of LPL Financial Holdings Inc which is valued at $370,368. LPL Financial Holdings Inc makes up approx 0.03% of Cadence Capital Management’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in LPLA by selling 4 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 2,646 shares of LPLA which is valued at $69,854.First Mercantile Trust Co reduced its stake in LPLA by selling 417 shares or 9.48% in the most recent quarter. The Hedge Fund company now holds 3,980 shares of LPLA which is valued at $105,072. LPL Financial Holdings Inc makes up approx 0.01% of First Mercantile Trust Co’s portfolio. Raymond James Trust N.a. added LPLA to its portfolio by purchasing 17,560 company shares during the most recent quarter which is valued at $481,144. LPL Financial Holdings Inc makes up approx 0.04% of Raymond James Trust N.a.’s portfolio.

On the company’s financial health, LPL Financial Holdings Inc reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $1005.00 million for the quarter, compared to analysts expectations of $1027.92 million. The company’s revenue was down -9.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on LPL Financial Holdings Inc. LPL Financial Holdings Inc was Downgraded by Goldman to ” Sell” on Apr 5, 2016. LPL Financial Holdings Inc was Upgraded by Citigroup to ” Neutral” on Feb 17, 2016. LPL Financial Holdings Inc was Upgraded by Credit Suisse to ” Outperform” on Feb 16, 2016.

LPL Financial Holdings Inc. is an independent broker-dealer a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors including financial advisors at around 700 financial institutions enabling them to provide their retail investors with objective financial advice. It also supports approximately 4400 financial advisors who are affiliated and licensed with insurance companies through customized clearing services advisory platforms and technology solutions. It provides its advisors with the front-office middle-office and back-office support. The Company provides its technology and service to advisors through a technology platform that is server-based and Web-accessible. Its subsidiaries include LPL Financial LLC The Private Trust Company N.A. Independent Advisers Group Corporation and LPL Insurance Associates Inc.

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