William Blair Has Negative View of LPL Financial Q3 Earnings

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Analysts at William Blair dropped their Q3 2024 earnings per share estimates for LPL Financial in a research note issued to investors on Monday, October 14th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $3.67 for the quarter, down from their prior estimate of $3.77. The consensus estimate for LPL Financial’s current full-year earnings is $15.79 per share. William Blair also issued estimates for LPL Financial’s FY2024 earnings at $15.74 EPS, FY2025 earnings at $18.35 EPS and FY2026 earnings at $20.20 EPS.

A number of other research firms also recently commented on LPLA. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Barclays decreased their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group decreased their target price on LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $277.77.

LPL Financial Trading Up 2.9 %

LPL Financial stock opened at $262.22 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a one year low of $187.19 and a one year high of $289.88. The stock has a market cap of $19.59 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The stock has a 50-day moving average of $223.10 and a two-hundred day moving average of $248.28.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the business posted $3.94 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year.

Institutional Trading of LPL Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after buying an additional 48,439 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares in the last quarter. Boston Partners increased its position in shares of LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares in the last quarter. Samlyn Capital LLC increased its position in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after purchasing an additional 275,286 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) 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.