Q2 2024 EPS Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA) Lowered by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at William Blair dropped their Q2 2024 EPS estimates for shares of LPL Financial in a report released on Wednesday, May 1st. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $3.86 for the quarter, down from their previous estimate of $3.89. The consensus estimate for LPL Financial’s current full-year earnings is $15.55 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. TD Cowen lifted their price target on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday. Barclays lifted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Raymond James began coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $276.20.

LPL Financial Trading Up 1.5 %

LPLA opened at $269.47 on Thursday. LPL Financial has a 1-year low of $179.00 and a 1-year high of $276.12. The firm has a 50-day moving average price of $264.75 and a two-hundred day moving average price of $242.88. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $20.13 billion, a PE ratio of 20.35, a PEG ratio of 1.30 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.21 EPS.

Hedge Funds Weigh In On LPL Financial

Large investors have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new position in shares of LPL Financial in the fourth quarter valued at about $25,000. Smithfield Trust Co raised its position in shares of LPL Financial by 164.4% in 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 period. GAMMA Investing LLC bought a new position in shares of LPL Financial in the fourth quarter valued at about $30,000. Gladius Capital Management LP acquired a new position in shares of LPL Financial in the fourth quarter valued at about $30,000. Finally, Riverview Trust Co acquired a new position in shares of LPL Financial in the first quarter valued at about $30,000. 95.66% of the stock is owned by institutional investors.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on 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 sale, 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 is accessible through this hyperlink. In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $3,641,462.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock worth $15,911,088 over the last ninety days. Insiders own 1.30% of the company’s stock.

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 issued 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 0.45%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

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.