Clarkston Capital Partners buys $80,314,424 stake in LPL Financial Holdings Inc (LPLA)

LPL Financial Holdings Inc (LPLA) : Clarkston Capital Partners scooped up 296,840 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 Jul 21, 2016. The investment management firm now holds a total of 3,311,935 shares of LPL Financial Holdings Inc which is valued at $80,314,424.LPL Financial Holdings Inc makes up approximately 4.01% of Clarkston Capital Partners’s portfolio.

Other Hedge Funds, Including , Cibc World Markets added LPLA to its portfolio by purchasing 19,560 company shares during the most recent quarter which is valued at $474,330. Trust Department Mb Financial Bank N A sold out all of its stake in LPLA during the most recent quarter. The investment firm sold 3,000 shares of LPLA which is valued $71,280.Creative Planning boosted its stake in LPLA in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 471 shares of LPL Financial Holdings Inc which is valued at $11,337.Raymond James Trust N.a. reduced its stake in LPLA by selling 1,696 shares or 9.66% in the most recent quarter. The Hedge Fund company now holds 15,864 shares of LPLA which is valued at $360,271. LPL Financial Holdings Inc makes up approx 0.03% of Raymond James Trust N.a.’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LPLA by selling 2,043 shares or 18.91% in the most recent quarter. The Hedge Fund company now holds 8,761 shares of LPLA which is valued at $198,962.

LPL Financial Holdings Inc opened for trading at $24.92 and hit $25.42 on the upside on Thursday, eventually ending the session at $25.26, with a gain of 1.41% or 0.35 points. The heightened volatility saw the trading volume jump to 10,83,055 shares. Company has a market cap of $2,248 M.

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.

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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