Equities Analysts Offer Predictions for LPL Financial Holdings Inc.'s Q2 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - Research analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of LPL Financial in a research report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $3.89 per share for the quarter, down from their previous estimate of $3.92. The consensus estimate for LPL Financial's current full-year earnings is $15.57 per share. William Blair also issued estimates for LPL Financial's Q3 2024 earnings at $3.75 EPS and FY2024 earnings at $15.75 EPS.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping 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 return on equity of 57.68% and a net margin of 10.61%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.21 EPS.

Several other analysts have also recently commented on the stock. Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an "underperform" rating for the company. Barclays upped their price objective on LPL Financial from $302.00 to $312.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Morgan Stanley upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $254.00 to $315.00 in a research report on Tuesday. Finally, TD Cowen increased their price target on shares of LPL Financial from $266.00 to $269.00 and gave the company a "market perform" rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $268.36.

LPL Financial Trading Down 0.8 %

NASDAQ LPLA traded down $2.20 during trading hours on Friday, hitting $261.12. The company's stock had a trading volume of 563,295 shares, compared to its average volume of 540,487. LPL Financial has a twelve month low of $179.00 and a twelve month high of $274.35. The firm has a market capitalization of $19.51 billion, a P/E ratio of 19.13, a PEG ratio of 1.26 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $261.30 and a 200 day moving average of $239.97.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of LPL Financial by 36.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,383 shares of the financial services provider's stock worth $801,000 after purchasing an additional 1,181 shares in the last quarter. HighTower Advisors LLC grew its position in shares of LPL Financial by 29.1% in the 1st quarter. HighTower Advisors LLC now owns 2,172 shares of the financial services provider's stock valued at $395,000 after acquiring an additional 489 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of LPL Financial by 21.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,392 shares of the financial services provider's stock worth $802,000 after purchasing an additional 770 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of LPL Financial by 176.6% in the 1st quarter. Bank of Montreal Can now owns 6,549 shares of the financial services provider's stock valued at $1,216,000 after purchasing an additional 4,181 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in LPL Financial in the 1st quarter valued at about $58,000. 95.66% of the stock is owned by institutional investors.

Insider Transactions at LPL Financial

In related news, Director Kabir Sethi sold 1,300 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the sale, the director now directly owns 10,245 shares of the company's stock, valued at approximately $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the sale, the chief executive officer now directly owns 137,044 shares in the company, valued at $35,131,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kabir Sethi sold 1,300 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the completion of the sale, the director now directly owns 10,245 shares in the company, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 over the last quarter. Corporate insiders own 1.30% of the company's stock.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.79%.

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.