LPL Financial FY2024 EPS Forecast Raised by Zacks Research

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - Stock analysts at Zacks Research boosted their FY2024 EPS estimates for shares of LPL Financial in a research report issued on Tuesday, January 21st. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $16.05 per share for the year, up from their previous estimate of $15.87. The consensus estimate for LPL Financial's current full-year earnings is $16.15 per share. Zacks Research also issued estimates for LPL Financial's Q1 2026 earnings at $5.04 EPS and Q2 2026 earnings at $5.53 EPS.

A number of other research analysts also recently issued reports on the company. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. The Goldman Sachs Group lifted their price objective 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. Barclays increased their target price on shares of LPL Financial from $378.00 to $379.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Morgan Stanley lifted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $351.50.

LPL Financial Stock Up 1.5 %

LPLA stock traded up $5.34 during trading hours on Wednesday, reaching $355.74. 76,621 shares of the stock were exchanged, compared to its average volume of 492,834. The firm's 50-day moving average is $328.90 and its 200-day moving average is $268.76. LPL Financial has a 12 month low of $187.19 and a 12 month high of $361.63. The company has a market cap of $26.64 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.74 earnings per share.

Institutional Investors Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in LPLA. FMR LLC grew its position in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of LPL Financial by 27.6% during the 3rd 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 last quarter. Southpoint Capital Advisors LP grew its holdings in shares of LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider's stock worth $115,635,000 after purchasing an additional 223,931 shares during the last quarter. Finally, Azora Capital LP raised its stake in LPL Financial by 52.2% in the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider's stock valued at $149,708,000 after purchasing an additional 220,622 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company's stock.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. LPL Financial's dividend payout ratio is currently 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.