FY2024 EPS Estimates for LPL Financial Raised by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - Stock analysts at William Blair upped their FY2024 earnings per share estimates for shares of LPL Financial in a research note issued on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $16.30 per share for the year, up from their previous estimate of $16.20. The consensus estimate for LPL Financial's current full-year earnings is $16.10 per share.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly 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. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 EPS. The firm's quarterly revenue was up 6.0% on a year-over-year basis.

LPLA has been the topic of several other research reports. UBS Group raised LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 target price on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of LPL Financial from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on LPL Financial from $310.00 to $390.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $351.50.

LPL Financial Stock Up 1.1 %

Shares of LPLA stock traded up $3.66 on Wednesday, reaching $338.25. 510,150 shares of the company's stock traded hands, compared to its average volume of 525,531. The company has a market capitalization of $25.33 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. LPL Financial has a 12-month low of $187.19 and a 12-month high of $344.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business's 50 day moving average price is $325.45 and its two-hundred day moving average price is $266.41.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of LPLA. FMR LLC grew its position in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider's stock worth $723,329,000 after buying an additional 233,242 shares in the last quarter. Geode Capital Management LLC grew its position in LPL Financial by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock worth $333,581,000 after buying an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. increased its stake in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after acquiring an additional 276,166 shares during the period. Finally, Samlyn Capital LLC raised its holdings in LPL Financial by 8.0% in the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider's stock valued at $333,684,000 after acquiring an additional 88,635 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares of the company's stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is 9.02%.

LPL Financial Company Profile

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.