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

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - William Blair cut their Q2 2024 earnings per share (EPS) estimates for LPL Financial in a research note issued to investors on Wednesday, May 1st. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.86 per share 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.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm earned $4.21 earnings per share. LPL Financial's revenue was up 13.3% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. UBS Group upped their price target on LPL Financial from $260.00 to $267.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Morgan Stanley raised LPL Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a "neutral" rating in a research report on Tuesday, April 2nd. TD Cowen upped their price objective on shares of LPL Financial from $269.00 to $271.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Raymond James assumed coverage on shares of LPL Financial in a report on Thursday, April 4th. They set an "underperform" rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $276.20.

LPL Financial Stock Up 1.5 %

Shares of NASDAQ LPLA traded up $3.98 during trading on Thursday, hitting $269.47. 562,073 shares of the company traded hands, compared to its average volume of 542,490. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.30 and a beta of 0.83. The business's fifty day moving average is $264.75 and its 200 day moving average is $242.88. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $276.12.

LPL Financial Dividend Announcement

The firm also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial's dividend payout ratio is presently 9.06%.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares of the company's stock, valued at $35,131,229.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On LPL Financial

Several large investors have recently added to or reduced their stakes in LPLA. EdgeRock Capital LLC bought a new position in LPL Financial during the fourth quarter worth about $25,000. Riverview Trust Co bought a new position in LPL Financial in the 1st quarter worth approximately $30,000. Smithfield Trust Co grew its stake in LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider's stock valued at $28,000 after buying an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new stake in LPL Financial during the 4th quarter valued at $30,000. Finally, Gladius Capital Management LP purchased a new stake in shares of LPL Financial during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.