Equities Analysts Offer Predictions for LPL Financial Holdings Inc.’s Q2 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of LPL Financial in a report released on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $3.89 per share for the quarter, down from their prior forecast of $3.92. The consensus estimate for LPL Financial’s current full-year earnings is $15.57 per share. William Blair also issued estimates for LPL Financial’s Q3 2024 earnings at $3.75 EPS and FY2024 earnings at $15.75 EPS.

A number of other equities research analysts have also recently weighed in on LPLA. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a report on Tuesday. JMP Securities lifted their target price on LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research note on Tuesday. TD Cowen increased their price target on LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Barclays raised their price target on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday. Finally, Raymond James initiated coverage on shares of LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $268.36.

LPL Financial Trading Up 1.5 %

LPL Financial stock opened at $263.32 on Friday. LPL Financial has a 52-week low of $179.00 and a 52-week high of $274.35. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.26 and a beta of 0.84. The firm has a 50-day moving average price of $261.10 and a two-hundred day moving average price of $239.83.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $4.21 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s payout ratio is 8.79%.

Insiders Place Their Bets

In other news, Director Kabir Sethi sold 1,300 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the completion of the sale, the director now owns 10,245 shares in the company, valued at approximately $2,730,292.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kabir Sethi sold 1,300 shares of LPL Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the transaction, the director now directly owns 10,245 shares in the company, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,151 shares of company stock worth $15,911,088. 1.30% of the stock is owned by insiders.

Institutional Trading of LPL Financial

A number of hedge funds have recently bought and sold shares of LPLA. Hudson Bay Capital Management LP lifted its position in shares of LPL Financial by 42.9% in the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock valued at $11,882,000 after acquiring an additional 15,000 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in LPL Financial by 15.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after purchasing an additional 4,686 shares during the period. Reinhart Partners LLC. lifted its holdings in shares of LPL Financial by 6.2% in the fourth quarter. Reinhart Partners LLC. now owns 74,620 shares of the financial services provider’s stock valued at $16,985,000 after purchasing an additional 4,333 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of LPL Financial by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 5,629 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 198 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of LPL Financial by 3.8% during the third quarter. Victory Capital Management Inc. now owns 233,205 shares of the financial services provider’s stock valued at $55,421,000 after buying an additional 8,570 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.