Q2 2024 EPS Estimates for LPL Financial Holdings Inc. Reduced by William Blair (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at William Blair cut their Q2 2024 EPS estimates for shares of LPL Financial in a report issued on Wednesday, May 1st. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $3.86 per share for the quarter, down from their previous estimate of $3.89. The consensus estimate for LPL Financial’s current full-year earnings is $15.63 per share. William Blair also issued estimates for LPL Financial’s FY2025 earnings at $20.00 EPS.

Several other brokerages have also recently commented on LPLA. UBS Group increased their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Raymond James started coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. TD Cowen lifted their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research report on Wednesday. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, LPL Financial presently has an average rating of “Hold” and an average target price of $276.20.

LPL Financial Stock Up 0.5 %

NASDAQ:LPLA opened at $270.79 on Thursday. The stock has a 50-day simple moving average of $264.90 and a 200 day simple moving average of $243.15. LPL Financial has a 52-week low of $179.00 and a 52-week high of $276.12. The company has a market cap of $20.23 billion, a PE ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.83. 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 (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.18. The firm 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 revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $4.21 EPS.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $0.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. LPL Financial’s payout ratio is 9.06%.

Insider Activity

In related news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $3,641,462.76. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 over the last three months. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in LPLA. Commonwealth Equity Services LLC lifted its position in shares of LPL Financial by 18.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock valued at $731,000 after acquiring an additional 489 shares during the period. Cigna Investments Inc. New acquired a new stake in LPL Financial during the third quarter worth about $206,000. Cambridge Investment Research Advisors Inc. raised its position in shares of LPL Financial by 13.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,852 shares of the financial services provider’s stock valued at $440,000 after buying an additional 225 shares in the last quarter. Xponance Inc. lifted its holdings in shares of LPL Financial by 1.0% during the 3rd quarter. Xponance Inc. now owns 11,139 shares of the financial services provider’s stock worth $2,647,000 after acquiring an additional 114 shares during the period. Finally, Raymond James & Associates boosted its position in shares of LPL Financial by 0.5% during the 3rd quarter. Raymond James & Associates now owns 372,531 shares of the financial services provider’s stock worth $88,532,000 after acquiring an additional 1,976 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.