FY2024 EPS Forecast for LPL Financial Increased by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at Zacks Research raised their FY2024 earnings per share estimates for LPL Financial in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $15.87 for the year, up from their previous forecast of $15.67. The consensus estimate for LPL Financial’s current full-year earnings is $16.10 per share. Zacks Research also issued estimates for LPL Financial’s FY2026 earnings at $20.49 EPS.

A number of other brokerages also recently issued reports on LPLA. Citigroup raised their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price objective on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. TD Cowen raised their price objective on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Price Performance

LPL Financial stock opened at $327.35 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $24.51 billion, a PE ratio of 24.58, a P/E/G ratio of 1.60 and a beta of 0.85. LPL Financial has a 12 month low of $187.19 and a 12 month high of $330.72. The stock has a 50-day moving average price of $265.66 and a two-hundred day moving average price of $253.40.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $3.74 earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB purchased a new position in LPL Financial in the first quarter worth $3,648,000. Raymond James & Associates boosted its position in LPL Financial by 5.4% in the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after purchasing an additional 20,123 shares during the last quarter. Coronation Fund Managers Ltd. boosted its position in LPL Financial by 68.2% in the third quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock worth $50,586,000 after purchasing an additional 88,196 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in LPL Financial by 882.4% in the second quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock worth $23,996,000 after purchasing an additional 77,169 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in LPL Financial by 14.0% in the third quarter. Mediolanum International Funds Ltd now owns 28,548 shares of the financial services provider’s stock worth $6,580,000 after purchasing an additional 3,496 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s payout ratio is 9.02%.

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.