Q2 2024 Earnings Estimate for LPL Financial Holdings Inc. (NASDAQ:LPLA) Issued By William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair lowered their Q2 2024 earnings estimates for LPL Financial in a research note issued to investors on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $3.89 per share for the quarter, down from their previous forecast of $3.92. The consensus estimate for LPL Financial’s current full-year earnings is $15.57 per share. William Blair also issued estimates for LPL Financial’s Q3 2024 earnings at $3.75 EPS and FY2024 earnings at $15.75 EPS.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $4.21 EPS.

Other research analysts also recently issued reports about the stock. Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. JMP Securities raised their price objective on shares of LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research note on Tuesday. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $254.00 to $315.00 in a report on Tuesday. UBS Group increased their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, TD Cowen lifted their price objective on LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Hold” and an average target price of $268.36.

LPL Financial Price Performance

LPL Financial stock opened at $263.32 on Friday. The business’s 50-day simple moving average is $261.10 and its 200 day simple moving average is $239.83. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.26 and a beta of 0.84. LPL Financial has a 12-month low of $179.00 and a 12-month high of $274.35.

LPL Financial Announces Dividend

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

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at approximately $37,798,037.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kabir Sethi sold 1,300 shares of the business’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 sale, the director now directly owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the 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 transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. In the last three months, insiders sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Institutional investors have recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its stake in LPL Financial by 218,199.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 95,191,655 shares of the financial services provider’s stock valued at $20,577,580,000 after acquiring an additional 95,148,049 shares in the last quarter. Vanguard Group Inc. grew its position in LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after purchasing an additional 48,439 shares in the last quarter. BlackRock Inc. increased its stake in LPL Financial by 4.0% in the 1st quarter. BlackRock Inc. now owns 6,542,756 shares of the financial services provider’s stock valued at $1,324,254,000 after buying an additional 250,448 shares during the last quarter. Wellington Management Group LLP lifted its position in LPL Financial by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock worth $652,923,000 after buying an additional 248,255 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of LPL Financial by 0.4% during the 3rd quarter. WCM Investment Management LLC now owns 2,457,027 shares of the financial services provider’s stock worth $583,912,000 after buying an additional 10,182 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.