FY2024 EPS Estimates for LPL Financial Increased by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - Equities research analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of LPL Financial in a research report issued on Thursday, October 31st. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $16.20 for the year, up from their prior estimate of $15.74. The consensus estimate for LPL Financial's current full-year earnings is $15.77 per share. William Blair also issued estimates for LPL Financial's Q1 2025 earnings at $4.62 EPS, Q2 2025 earnings at $4.40 EPS, Q3 2025 earnings at $4.56 EPS and Q4 2025 earnings at $4.72 EPS.

LPLA has been the topic of several other research reports. Bank of America raised LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Barclays increased their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. TD Cowen lifted their price target on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a report on Thursday. Finally, StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $286.92.

LPL Financial Stock Down 2.4 %

Shares of NASDAQ:LPLA traded down $6.83 during midday trading on Monday, reaching $273.98. The company had a trading volume of 1,098,716 shares, compared to its average volume of 740,420. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The stock has a market cap of $20.48 billion, a PE ratio of 21.11, a P/E/G ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The business's 50 day moving average price is $235.38 and its 200 day moving average price is $248.45.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the prior year, the company posted $3.74 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. LPL Financial's payout ratio is 9.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Boston Partners lifted its holdings in shares of LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider's stock worth $466,434,000 after acquiring an additional 738,509 shares during the period. TD Asset Management Inc lifted its holdings in shares of LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider's stock worth $291,586,000 after acquiring an additional 275,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of LPL Financial by 9.9% during the 2nd 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 acquiring an additional 233,242 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of LPL Financial by 31.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider's stock worth $216,227,000 after acquiring an additional 183,755 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its holdings in shares of LPL Financial by 159.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider's stock worth $78,779,000 after acquiring an additional 183,290 shares during the period. Institutional investors own 95.66% of the company's stock.

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.