Comerica Bank bought a new position in LPL Financial Holdings Inc (NASDAQ:LPLA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,053 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Retirement Capital Strategies increased its stake in shares of LPL Financial by 0.4% during the 2nd quarter. Retirement Capital Strategies now owns 10,041 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 41 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of LPL Financial by 1.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 52 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of LPL Financial by 0.4% during the 2nd quarter. Hanseatic Management Services Inc. now owns 19,602 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 83 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of LPL Financial by 2.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 17,588 shares of the financial services provider’s stock worth $747,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 90.33% of the company’s stock.

LPL Financial Holdings Inc (LPLA) opened at $53.47 on Thursday. LPL Financial Holdings Inc has a 12 month low of $34.01 and a 12 month high of $55.39. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. The stock has a market cap of $4,933.40, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.82 and a beta of 1.88.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $0.58 EPS. LPL Financial’s revenue was up 4.6% compared to the same quarter last year. equities analysts anticipate that LPL Financial Holdings Inc will post 2.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. LPL Financial’s payout ratio is presently 42.55%.

LPLA has been the topic of several analyst reports. Zacks Investment Research lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. SunTrust Banks restated a “buy” rating and set a $65.00 price target on shares of LPL Financial in a research note on Friday, October 27th. Citigroup increased their price target on shares of LPL Financial from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Morgan Stanley increased their price target on shares of LPL Financial from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Finally, Nomura raised their target price on shares of LPL Financial from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.55.

In related news, CEO Dan H. Arnold sold 3,742 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

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About LPL Financial

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors 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 financial institutions across the country.

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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