13,500 Shares in LPL Financial Holdings Inc. $LPLA Purchased by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital opened a new position in LPL by buying 13,500 shares in Q4 (about $4.82M), joining other institutional moves that leave hedge funds and institutions owning roughly 95.66% of the stock.
• Mixed Q1 results: LPL beat EPS ($5.60) and reported $4.94B revenue with advisory assets up ~42% and total client assets of $2.3T, while also resuming buybacks (~$125M planned) and declaring a $0.30 quarterly dividend; however, recruited assets fell ~17B (~55% YoY) and management trimmed Commonwealth run‑rate EBITDA and flagged higher Core G&A.
• Insider selling has been notable recently — insiders sold 8,569 shares (~$2.72M) in the last 90 days (including the director and CFO), leaving insiders with about 0.60% ownership and adding potential near‑term selling pressure.

Kornitzer Capital Management Inc. KS acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,500 shares of the financial services provider's stock, valued at approximately $4,822,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new stake in LPL Financial during the second quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider's stock worth $27,000 after buying an additional 73 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in LPL Financial during the third quarter worth about $27,000. Steigerwald Gordon & Koch Inc. boosted its holdings in LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock worth $28,000 after buying an additional 66 shares in the last quarter. Finally, Eastern Bank boosted its holdings in LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider's stock worth $29,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity

In other news, Director Matthew Enyedi sold 2,109 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $320.15, for a total transaction of $675,196.35. Following the completion of the sale, the director directly owned 14,121 shares of the company's stock, valued at $4,520,838.15. The trade was a 12.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Audette sold 1,110 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total transaction of $366,311.10. Following the sale, the chief financial officer directly owned 19,803 shares of the company's stock, valued at $6,535,188.03. This represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,569 shares of company stock valued at $2,720,733 in the last ninety days. Company insiders own 0.60% of the company's stock.

LPL Financial News Summary

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: Q1 beat on the top and bottom line — adjusted EPS of $5.60 and revenue of $4.94B, above consensus; gross profit and adjusted pre-tax income rose year-over-year, supporting profitability. LPL Financial Announces First-Quarter 2026 Results
• Positive Sentiment: Advisory assets and total client assets expanded materially (advisory assets +42% YoY; total client assets $2.3T), increasing recurring-fee exposure and long-term revenue mix. LPLA Q1 Earnings Beat — Zacks
• Positive Sentiment: Capital returns and shareholder-friendly actions: company resumed share repurchases (~$125M planned for Q2) and declared a quarterly dividend ($0.30/share), which can support valuation. LPL Q1 Slide Deck / Press Release
• Neutral Sentiment: JPMorgan slightly trimmed its price target (from $396 to $390) but kept an Overweight rating, signaling continued analyst conviction despite trimming assumptions. Benzinga — JPMorgan Price Target
• Neutral Sentiment: Full earnings call/transcript and analyst notes are available for deeper read-through of assumptions and guidance changes. Earnings Call Transcript — Seeking Alpha
• Negative Sentiment: Recruited assets plunged (~$17B; down ~55% YoY), and organic net new assets were modest ($21B), raising concerns about forward growth momentum for AUM-driven fees. This softness is a key driver of the intra-day decline. Quiver Quant — Asset Metrics & Price Reaction
• Negative Sentiment: Management lowered the estimated Commonwealth run‑rate EBITDA (to ~$410M from $425M) and flagged higher Core G&A, which tempers margin upside and near-term cash flow expectations. LPL Financial Q1 Release — GlobeNewswire
• Negative Sentiment: Market reaction is amplified by visible insider selling activity reported in recent months (multiple insiders selling, few purchases), which can add to near-term selling pressure. Quiver Quant — Insider & Institutional Activity

Analysts Set New Price Targets

A number of research firms recently commented on LPLA. JPMorgan Chase & Co. decreased their price objective on shares of LPL Financial from $396.00 to $390.00 and set an "overweight" rating on the stock in a report on Friday. Morgan Stanley reduced their price target on shares of LPL Financial from $447.00 to $374.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. UBS Group upped their price target on shares of LPL Financial from $380.00 to $395.00 and gave the company a "buy" rating in a report on Friday. TD Cowen reduced their price target on shares of LPL Financial from $330.00 to $326.00 and set a "hold" rating on the stock in a report on Friday. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $500.00 price target on shares of LPL Financial in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $398.86.

LPL Financial Stock Performance

Shares of LPLA opened at $318.63 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 0.87 and a beta of 0.57. The company's 50 day simple moving average is $308.70 and its 200 day simple moving average is $342.67. LPL Financial Holdings Inc. has a 1 year low of $281.51 and a 1 year high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 32.06%. The company's quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 earnings per share. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 23.02 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial's dividend payout ratio (DPR) is currently 10.90%.

About LPL Financial

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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