Q2 2023 EPS Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA) Raised by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) – Stock analysts at Jefferies Financial Group increased their Q2 2023 earnings estimates for shares of LPL Financial in a research note issued on Friday, November 18th. Jefferies Financial Group analyst G. O’hara now expects that the financial services provider will post earnings of $4.48 per share for the quarter, up from their prior forecast of $4.46. The consensus estimate for LPL Financial’s current full-year earnings is $11.32 per share. Jefferies Financial Group also issued estimates for LPL Financial’s Q3 2023 earnings at $4.56 EPS, Q4 2023 earnings at $4.73 EPS, FY2023 earnings at $18.12 EPS and FY2024 earnings at $20.23 EPS.

A number of other equities research analysts have also recently issued reports on LPLA. StockNews.com started coverage on shares of LPL Financial in a report on Wednesday, October 12th. They set a “hold” rating on the stock. UBS Group cut shares of LPL Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $305.00 to $230.00 in a report on Thursday. JMP Securities upped their price target on shares of LPL Financial from $245.00 to $270.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 11th. Citigroup assumed coverage on shares of LPL Financial in a report on Tuesday, October 11th. They issued a “buy” rating and a $290.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of LPL Financial from $259.00 to $281.00 and gave the stock an “overweight” rating in a report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.86.

LPL Financial Trading Up 0.3 %

Shares of LPLA stock opened at $218.22 on Monday. The company’s fifty day simple moving average is $238.52 and its two-hundred day simple moving average is $212.52. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.50 and a quick ratio of 1.50. LPL Financial has a 1 year low of $140.65 and a 1 year high of $271.56. The stock has a market capitalization of $17.37 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 0.37 and a beta of 0.94.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Thursday, November 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. LPL Financial’s dividend payout ratio is presently 12.84%.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 20,000 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $257.09, for a total value of $5,141,800.00. Following the transaction, the chief financial officer now owns 12,667 shares of the company’s stock, valued at $3,256,559.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of LPL Financial

Several institutional investors have recently added to or reduced their stakes in the business. National Pension Service purchased a new stake in LPL Financial during the third quarter valued at about $25,782,000. Advisory Research Inc. boosted its position in LPL Financial by 52.7% during the third quarter. Advisory Research Inc. now owns 2,418 shares of the financial services provider’s stock valued at $528,000 after buying an additional 835 shares during the period. Ascent Group LLC purchased a new stake in LPL Financial during the third quarter valued at about $572,000. Baird Financial Group Inc. boosted its position in LPL Financial by 2.5% during the third quarter. Baird Financial Group Inc. now owns 4,696 shares of the financial services provider’s stock valued at $1,027,000 after buying an additional 115 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in LPL Financial during the third quarter valued at about $525,000.

LPL Financial Company Profile

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

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