Q3 2024 EPS Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA) Increased by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – William Blair boosted their Q3 2024 earnings estimates for shares of LPL Financial in a research note issued to investors on Wednesday, May 1st. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.78 per share for the quarter, up from their prior forecast of $3.75. The consensus estimate for LPL Financial’s current full-year earnings is $15.84 per share. William Blair also issued estimates for LPL Financial’s FY2024 earnings at $16.20 EPS, Q1 2025 earnings at $4.96 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $4.85 EPS and Q4 2025 earnings at $5.30 EPS.

A number of other research firms have also recently commented on LPLA. Barclays lifted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. UBS Group raised their price target on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note 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 company from $254.00 to $315.00 in a report on Tuesday, April 9th. TD Cowen lifted their target price on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Raymond James initiated coverage on shares of 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 assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, LPL Financial currently has an average rating of “Hold” and a consensus target price of $276.20.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $270.79 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $276.12. The firm has a market capitalization of $20.23 billion, a PE ratio of 20.45, a PEG ratio of 1.08 and a beta of 0.83. The stock’s fifty day moving average is $264.90 and its 200 day moving average is $243.19.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.21 earnings per share.

Institutional Trading of LPL Financial

Several hedge funds have recently modified their holdings of LPLA. Vanguard Group Inc. grew its position in shares of LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after buying an additional 48,439 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in LPL Financial by 3.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock worth $509,945,000 after purchasing an additional 79,869 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of LPL Financial by 17.2% during the third quarter. Bank of New York Mellon Corp now owns 1,099,608 shares of the financial services provider’s stock worth $261,322,000 after purchasing an additional 161,485 shares in the last quarter. Boston Partners lifted its holdings in shares of LPL Financial by 21.5% during the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after purchasing an additional 181,594 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of LPL Financial in the 4th quarter worth $200,497,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. In other LPL Financial 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 transaction of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares in the company, valued at $2,218,419.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock worth $15,911,088 in the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

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.