Q3 2024 Earnings Forecast for LPL Financial Holdings Inc. (NASDAQ:LPLA) Issued By William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) - Equities researchers at William Blair increased their Q3 2024 earnings per share (EPS) estimates for shares of LPL Financial in a note issued to investors on Wednesday, May 1st. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.78 per share for the quarter, up from their previous estimate of $3.75. The consensus estimate for LPL Financial's current full-year earnings is $15.63 per share. William Blair also issued estimates for LPL Financial's FY2024 earnings at $16.20 EPS, Q1 2025 earnings at $4.96 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $4.85 EPS and Q4 2025 earnings at $5.30 EPS.

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

Several other brokerages have also recently commented on LPLA. Barclays raised their price target on shares of LPL Financial from $302.00 to $312.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. TD Cowen upped their price target on LPL Financial from $269.00 to $271.00 and gave the stock a "hold" rating in a report on Wednesday. Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They issued an "underperform" rating on the stock. Morgan Stanley upgraded shares of 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 note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a "neutral" rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $276.20.

LPL Financial Stock Up 0.5 %

Shares of LPLA stock traded up $1.32 during trading on Friday, reaching $270.79. The company's stock had a trading volume of 480,869 shares, compared to its average volume of 541,773. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.83. LPL Financial has a 1-year low of $179.00 and a 1-year high of $276.12. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The stock's 50-day moving average price is $264.90 and its 200 day moving average price is $243.15.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. DGS Capital Management LLC increased its stake in LPL Financial by 2.8% in the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 44 shares during the period. V Square Quantitative Management LLC increased its position in LPL Financial by 9.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider's stock valued at $124,000 after acquiring an additional 47 shares during the period. Oliver Luxxe Assets LLC raised its stake in LPL Financial by 0.6% during the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider's stock valued at $1,856,000 after acquiring an additional 48 shares during the last quarter. Covestor Ltd lifted its position in LPL Financial by 13.6% during the 3rd quarter. Covestor Ltd now owns 417 shares of the financial services provider's stock worth $99,000 after acquiring an additional 50 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of LPL Financial by 12.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 496 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company'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 transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LPL Financial news, CEO Dan H. Arnold sold 7,089 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $265.66, for a total value of $1,883,263.74. Following the completion of the sale, the chief executive officer now owns 133,169 shares in the company, valued at $35,377,676.54. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, 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. In the last quarter, insiders sold 60,151 shares of company stock worth $15,911,088. Corporate insiders own 1.30% of the company's stock.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial's dividend payout ratio is presently 9.06%.

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.