Analysts Set Expectations for LPL Financial Holdings Inc.’s Q1 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at William Blair issued their Q1 2024 earnings per share (EPS) estimates for LPL Financial in a note issued to investors on Wednesday, April 10th. William Blair analyst J. Schmitt anticipates that the financial services provider will post earnings per share of $3.76 for the quarter. The consensus estimate for LPL Financial’s current full-year earnings is $15.55 per share. William Blair also issued estimates for LPL Financial’s Q4 2024 earnings at $4.36 EPS and FY2025 earnings at $19.30 EPS.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the firm posted $4.21 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis.

A number of other brokerages have also commented on LPLA. JMP Securities lifted their price target on LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. boosted 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. Barclays boosted their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $268.36.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $263.00 on Monday. The business’s fifty day simple moving average is $261.60 and its 200 day simple moving average is $240.18. The firm has a market capitalization of $19.65 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. LPL Financial has a 12 month low of $179.00 and a 12 month high of $274.35. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.30 per share. The ex-dividend date was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. LPL Financial’s payout ratio is 8.79%.

Insider Activity

In other news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock worth $15,911,088 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of LPL Financial

Several institutional investors have recently added to or reduced their stakes in LPLA. Raymond James Financial Services Advisors Inc. lifted its stake in LPL Financial by 36.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,383 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 1,181 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of LPL Financial by 29.1% during the first quarter. HighTower Advisors LLC now owns 2,172 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 489 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of LPL Financial by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,392 shares of the financial services provider’s stock valued at $802,000 after acquiring an additional 770 shares in the last quarter. Bank of Montreal Can raised its stake in shares of LPL Financial by 176.6% during the first quarter. Bank of Montreal Can now owns 6,549 shares of the financial services provider’s stock valued at $1,216,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of LPL Financial during the first quarter valued at approximately $58,000. Institutional investors own 95.66% of the company’s stock.

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.