FY2024 EPS Estimates for LPL Financial Boosted by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair upped their FY2024 earnings per share (EPS) estimates for LPL Financial in a note issued to investors 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) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.

A number of other analysts have also issued reports on LPLA. Citigroup boosted their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. JMP Securities restated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Keefe, Bruyette & Woods upped their target price on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group cut their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $351.50.

LPL Financial Trading Up 1.1 %

LPLA opened at $338.25 on Wednesday. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.60 and a beta of 0.87. The stock’s 50 day moving average price is $326.06 and its 200-day moving average price is $266.91. LPL Financial has a one year low of $187.19 and a one year 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridges Investment Management Inc. lifted its stake in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after buying an additional 37 shares in the last quarter. Avior Wealth Management LLC lifted its stake in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after buying an additional 42 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after buying an additional 43 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after buying an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after buying an additional 46 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s 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.