Comerica Bank Boosts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Comerica Bank boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,544 shares of the financial services provider's stock after purchasing an additional 11,798 shares during the quarter. Comerica Bank owned about 0.17% of LPL Financial worth $40,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in LPLA. Graney & King LLC purchased a new position in shares of LPL Financial in the 4th quarter valued at $30,000. Jones Financial Companies Lllp boosted its position in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Atala Financial Inc purchased a new position in LPL Financial during the 4th quarter worth $59,000. Compass Financial Services Inc purchased a new stake in LPL Financial in the fourth quarter valued at about $65,000. Finally, Quarry LP boosted its holdings in LPL Financial by 275.0% in the fourth quarter. Quarry LP now owns 210 shares of the financial services provider's stock worth $69,000 after acquiring an additional 154 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LPLA. Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. StockNews.com cut shares of LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. UBS Group upped their target price on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Barclays dropped their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $369.83.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

LPL Financial Price Performance

LPLA stock traded down $0.53 during mid-day trading on Tuesday, reaching $333.54. 118,830 shares of the company's stock were exchanged, compared to its average volume of 821,612. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The stock's 50 day moving average is $321.91 and its 200 day moving average is $327.53. The company has a market cap of $26.47 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.