Brokers Issue Forecasts for LPL Financial Holdings Inc.’s Q3 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at Zacks Research decreased their Q3 2024 earnings estimates for LPL Financial in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.80 per share for the quarter, down from their prior estimate of $3.85. The consensus estimate for LPL Financial’s current full-year earnings is $15.82 per share. Zacks Research also issued estimates for LPL Financial’s Q4 2024 earnings at $4.07 EPS, FY2024 earnings at $15.76 EPS, Q2 2025 earnings at $4.73 EPS, Q4 2025 earnings at $5.23 EPS, FY2025 earnings at $19.26 EPS and FY2026 earnings at $22.69 EPS.

A number of other research firms have also recently weighed in on LPLA. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. UBS Group boosted their target price on shares of 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 increased their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $276.20.

LPL Financial Stock Up 1.1 %

Shares of LPLA stock opened at $272.67 on Wednesday. The stock has a market cap of $20.37 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $265.52 and a 200 day moving average price of $247.45. LPL Financial has a one year low of $190.13 and a one year high of $276.12.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%.

Institutional Trading of LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EdgeRock Capital LLC bought a new position in LPL Financial in the fourth quarter valued at $25,000. Riverview Trust Co acquired a new position in LPL Financial during the first quarter valued at approximately $30,000. Smithfield Trust Co boosted its position in LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC bought a new position in LPL Financial in the fourth quarter valued at approximately $30,000. Finally, Gladius Capital Management LP acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $30,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Dan H. Arnold sold 7,089 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $265.66, for a total value of $1,883,263.74. Following the completion of the transaction, the chief executive officer now directly owns 133,169 shares in the company, valued at approximately $35,377,676.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan H. Arnold sold 7,089 shares of LPL Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.66, for a total value of $1,883,263.74. Following the completion of the sale, the chief executive officer now directly owns 133,169 shares in the company, valued at approximately $35,377,676.54. The disclosure for this sale can be found here. Insiders sold 48,770 shares of company stock worth $12,992,754 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

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.