Genus Capital Management Inc. Sells 9,490 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Genus Capital Management cut its stake in LPL Financial by 82.8% in the fourth quarter, selling 9,490 shares and leaving it with 1,972 shares worth about $704,000.
• Insiders also sold shares: Director Matthew Enyedi and CFO Matthew J. Audette both reduced their holdings, and insiders have sold 8,569 shares over the past three months.
• LPL Financial posted better-than-expected quarterly earnings of $5.60 per share, though revenue slightly missed estimates; analysts still rate the stock a Moderate Buy with a consensus target price of $398.86.

Genus Capital Management Inc. lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 82.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,972 shares of the financial services provider's stock after selling 9,490 shares during the quarter. Genus Capital Management Inc.'s holdings in LPL Financial were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LPLA. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $26,000. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock worth $28,000 after purchasing an additional 66 shares during the period. Westside Investment Management Inc. bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $34,000. Finally, Graney & King LLC raised its holdings in shares of LPL Financial by 49.5% in the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider's stock worth $52,000 after purchasing an additional 46 shares during the period. Institutional investors own 95.66% of the company's stock.

Insider Activity

In related news, Director Matthew Enyedi sold 2,109 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $320.15, for a total value of $675,196.35. Following the completion of the transaction, the director directly owned 14,121 shares in the company, valued at approximately $4,520,838.15. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 1,581 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $320.50, for a total transaction of $506,710.50. Following the completion of the transaction, the chief financial officer owned 21,382 shares of the company's stock, valued at $6,852,931. This trade represents a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,569 shares of company stock worth $2,720,733 in the last three months. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on shares of LPL Financial from $464.00 to $383.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Citigroup reaffirmed a "market outperform" rating on shares of LPL Financial in a report on Tuesday, February 3rd. Wolfe Research set a $478.00 price target on shares of LPL Financial in a report on Friday, January 30th. Barclays lifted their price objective on shares of LPL Financial from $369.00 to $412.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of LPL Financial from $396.00 to $390.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $398.86.

LPL Financial Price Performance

LPLA opened at $285.78 on Tuesday. The company has a fifty day moving average price of $305.41 and a 200-day moving average price of $337.74. The firm has a market capitalization of $22.86 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 0.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. LPL Financial Holdings Inc. has a one year low of $274.93 and a one year high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating analysts' consensus estimates of $5.49 by $0.11. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The business's revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.15 EPS. Equities research analysts expect that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, May 21st. LPL Financial's payout ratio is 10.71%.

LPL Financial Profile

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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