Jefferies Financial Group Analysts Cut Earnings Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) – Investment analysts at Jefferies Financial Group decreased their FY2022 earnings estimates for LPL Financial in a report issued on Tuesday, August 2nd. Jefferies Financial Group analyst G. O’hara now expects that the financial services provider will earn $9.23 per share for the year, down from their prior estimate of $9.78. The consensus estimate for LPL Financial’s current full-year earnings is $9.94 per share. Jefferies Financial Group also issued estimates for LPL Financial’s Q4 2022 earnings at $2.77 EPS, Q1 2023 earnings at $3.79 EPS, Q2 2023 earnings at $3.74 EPS, Q3 2023 earnings at $3.76 EPS, Q4 2023 earnings at $3.83 EPS, FY2023 earnings at $15.12 EPS and FY2024 earnings at $17.36 EPS.

A number of other analysts have also weighed in on LPLA. Citigroup upped their target price on shares of LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. UBS Group increased their price target on shares of LPL Financial from $212.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Morgan Stanley decreased their price target on LPL Financial from $241.00 to $239.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Truist Financial raised their target price on LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.83.

LPL Financial Stock Up 2.7 %

LPLA stock opened at $225.14 on Thursday. The company’s 50 day moving average price is $191.61 and its 200 day moving average price is $184.85. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.83 and a current ratio of 1.83. LPL Financial has a fifty-two week low of $137.59 and a fifty-two week high of $227.13. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 36.37, a PEG ratio of 0.56 and a beta of 0.96.

Institutional Trading of LPL Financial

Hedge funds have recently modified their holdings of the company. Prospera Financial Services Inc bought a new stake in shares of LPL Financial in the 1st quarter worth approximately $222,000. Advisor Group Holdings Inc. raised its holdings in shares of LPL Financial by 5.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 29,953 shares of the financial services provider’s stock worth $4,799,000 after buying an additional 1,448 shares in the last quarter. XML Financial LLC acquired a new position in shares of LPL Financial in the 1st quarter worth approximately $215,000. Atria Investments LLC raised its holdings in shares of LPL Financial by 9.7% in the 4th quarter. Atria Investments LLC now owns 10,623 shares of the financial services provider’s stock worth $1,701,000 after buying an additional 936 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of LPL Financial by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 981,643 shares of the financial services provider’s stock worth $157,151,000 after buying an additional 52,996 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 39,015 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $210.33, for a total value of $8,206,024.95. Following the transaction, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Dan H. Arnold sold 39,015 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the transaction, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 19,508 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $200.36, for a total value of $3,908,622.88. Following the sale, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $32,580,138.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,247 shares of company stock valued at $14,822,792. Company insiders own 1.60% of the company’s stock.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date is Tuesday, August 16th. LPL Financial’s payout ratio is 16.16%.

About LPL Financial

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

Further Reading

Earnings History and Estimates for LPL Financial (NASDAQ:LPLA)

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