FY2024 EPS Estimates for LPL Financial Boosted by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair lifted their FY2024 EPS estimates for LPL Financial in a research report issued 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 prior forecast of $16.20. The consensus estimate for LPL Financial’s current full-year earnings is $16.10 per share.

Several other research analysts have also weighed in on LPLA. Barclays upped their target price on shares of LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Morgan Stanley upped their price objective 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. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $288.00 to $397.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Trading Up 1.1 %

Shares of LPL Financial stock opened at $338.25 on Wednesday. LPL Financial has a 52-week low of $187.19 and a 52-week high of $344.86. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company’s 50-day simple moving average is $326.06 and its 200-day simple moving average is $266.91. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.74 earnings per share.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after acquiring an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP lifted its stake in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in LPL Financial by 9.9% in 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 in the last quarter. Finally, Maverick Capital Ltd. lifted its stake in LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock worth $115,635,000 after acquiring an additional 223,931 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction that occurred on 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 owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. 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.