LPL Financial Holdings Inc. (NASDAQ:LPLA) Forecasted to Earn Q2 2024 Earnings of $3.67 Per Share

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for LPL Financial in a report released on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $3.67 per share for the quarter, down from their prior forecast of $3.77. The consensus estimate for LPL Financial’s current full-year earnings is $15.86 per share. Zacks Research also issued estimates for LPL Financial’s Q1 2025 earnings at $4.46 EPS, Q3 2025 earnings at $4.84 EPS and Q1 2026 earnings at $5.23 EPS.

LPLA has been the topic of a number of other research reports. Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. UBS Group boosted their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $276.20.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $274.49 on Thursday. The business’s 50 day moving average price is $265.73 and its two-hundred day moving average price is $247.64. The company has a market cap of $20.51 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. 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 has a twelve month low of $190.13 and a twelve month high of $277.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of LPL Financial during the first quarter worth $3,648,000. Plato Investment Management Ltd increased its holdings in LPL Financial by 1,109.9% in the first quarter. Plato Investment Management Ltd now owns 980 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 899 shares during the period. SkyView Investment Advisors LLC acquired a new stake in LPL Financial in the first quarter valued at $1,233,000. Tidal Investments LLC increased its holdings in LPL Financial by 18.3% in the first quarter. Tidal Investments LLC now owns 1,544 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 239 shares during the period. Finally, California State Teachers Retirement System increased its holdings in LPL Financial by 0.8% in the first quarter. California State Teachers Retirement System now owns 121,566 shares of the financial services provider’s stock valued at $32,118,000 after purchasing an additional 958 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction 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 sale, the director now owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,681 shares of company stock worth $11,109,490. Company insiders own 1.30% of the company’s stock.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

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.