Zacks Research Equities Analysts Cut Earnings Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Zacks Research lowered their Q3 2024 earnings estimates for LPL Financial in a report issued on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $3.80 per share for the quarter, down from their previous estimate of $3.85. The consensus estimate for LPL Financial’s current full-year earnings is $15.82 per share. Zacks Research also issued estimates for LPL Financial’s Q4 2024 earnings at $4.07 EPS, FY2024 earnings at $15.76 EPS, Q2 2025 earnings at $4.73 EPS, Q4 2025 earnings at $5.23 EPS, FY2025 earnings at $19.26 EPS and FY2026 earnings at $22.69 EPS.

LPLA has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Barclays increased their target price on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JMP Securities reissued a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a report on Wednesday, May 1st. Finally, UBS Group lifted their target price on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial currently has an average rating of “Hold” and a consensus target price of $276.20.

LPL Financial Trading Up 0.1 %

NASDAQ:LPLA opened at $269.65 on Wednesday. The company has a market capitalization of $20.15 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The stock has a fifty day simple moving average of $265.32 and a 200-day simple moving average of $247.28. LPL Financial has a 52-week low of $190.13 and a 52-week high of $276.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Transactions at LPL Financial

In other news, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now owns 10,245 shares in the company, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $3,641,462.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kabir Sethi sold 1,300 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now directly owns 10,245 shares in the company, valued at $2,730,292.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,770 shares of company stock valued at $12,992,754. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Large investors have recently made changes to their positions in the business. EdgeRock Capital LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at $25,000. Smithfield Trust Co raised its position in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after buying an additional 74 shares in the last quarter. GAMMA Investing LLC purchased a new stake in LPL Financial in the 4th quarter worth about $30,000. Gladius Capital Management LP purchased a new stake in LPL Financial in the 4th quarter worth about $30,000. Finally, Riverview Trust Co purchased a new stake in LPL Financial in the 1st quarter worth about $30,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

About LPL Financial

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.