Jennison Associates LLC Reduces Stake in LPL Financial Holdings Inc. $LPLA

Jennison Associates LLC reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 89.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,667 shares of the financial services provider’s stock after selling 993,283 shares during the period. Jennison Associates LLC’s holdings in LPL Financial were worth $39,884,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the 2nd quarter valued at approximately $26,000. SJS Investment Consulting Inc. increased its stake in LPL Financial by 912.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in LPL Financial in the 3rd quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. increased its stake in LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Finally, Eastern Bank increased its stake in LPL Financial by 72.0% in the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting LPL Financial

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

LPL Financial Price Performance

LPLA stock opened at $318.63 on Friday. LPL Financial Holdings Inc. has a 52-week low of $281.51 and a 52-week high of $403.58. The stock’s fifty day simple moving average is $308.70 and its 200-day simple moving average is $342.49. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.11. LPL Financial had a return on equity of 32.06% and a net margin of 4.93%.The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter last year, the firm earned $5.15 earnings per share. The business’s revenue was up 34.6% on a year-over-year basis. Equities research analysts expect that LPL Financial Holdings Inc. will post 23 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a $0.30 dividend. The ex-dividend date 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 presently 10.90%.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 2,212 shares of LPL Financial stock in a transaction on Monday, March 9th. The stock was sold at an average price of $308.75, for a total value of $682,955.00. Following the transaction, the director owned 5,488 shares in the company, valued at approximately $1,694,420. This trade represents a 28.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Enyedi sold 2,109 shares of LPL Financial 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 owned 14,121 shares in the company, valued at $4,520,838.15. The trade was a 12.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,569 shares of company stock worth $2,720,733. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LPLA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Monday. Citizens Jmp reiterated a “market outperform” rating and set a $500.00 target price on shares of LPL Financial in a report on Monday, April 6th. Barclays increased their target price on LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $398.86.

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.