LPL Financial Holdings Inc. to Post Q2 2024 Earnings of $3.82 Per Share, William Blair Forecasts (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of LPL Financial in a research note issued on Wednesday, May 22nd. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $3.82 per share for the quarter, down from their prior estimate of $3.86. The consensus estimate for LPL Financial’s current full-year earnings is $15.86 per share.

A number of other research firms have also recently weighed in on LPLA. Barclays upped their price target on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. UBS Group increased their target price on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. TD Cowen increased their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Raymond James started coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.20.

LPL Financial Stock Up 0.7 %

NASDAQ LPLA opened at $274.49 on Thursday. The stock has a market cap of $20.51 billion, a PE ratio of 20.73, a P/E/G ratio of 1.08 and a beta of 0.83. LPL Financial has a fifty-two week low of $190.13 and a fifty-two week high of $277.31. The business has a 50 day moving average price of $265.73 and a two-hundred day moving average price of $247.64. 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 issued its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%.

LPL Financial Announces Dividend

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

Insiders Place Their Bets

In other LPL Financial 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 value of $346,450.00. Following the sale, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Dan H. Arnold sold 34,807 shares of the firm’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 transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kabir Sethi sold 1,300 shares of the firm’s stock in a transaction on 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. Insiders have sold 41,681 shares of company stock valued at $11,109,490 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LPLA. DGS Capital Management LLC boosted its stake in LPL Financial by 2.8% during the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after buying an additional 44 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in LPL Financial by 9.9% during the third quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock valued at $124,000 after buying an additional 47 shares in the last quarter. Oliver Luxxe Assets LLC boosted its stake in LPL Financial by 0.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 48 shares in the last quarter. Covestor Ltd boosted its stake in LPL Financial by 13.6% during the third quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock valued at $99,000 after buying an additional 50 shares in the last quarter. Finally, CWM LLC boosted its stake in LPL Financial by 6.0% during the fourth quarter. CWM LLC now owns 985 shares of the financial services provider’s stock valued at $224,000 after buying an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.