LPL Financial FY2024 EPS Forecast Boosted by William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Investment analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of LPL Financial in a research report issued to clients and investors on Thursday, October 31st. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $16.20 for the year, up from their previous estimate of $15.74. The consensus estimate for LPL Financial’s current full-year earnings is $15.77 per share. William Blair also issued estimates for LPL Financial’s Q1 2025 earnings at $4.62 EPS, Q2 2025 earnings at $4.40 EPS, Q3 2025 earnings at $4.56 EPS and Q4 2025 earnings at $4.72 EPS.

A number of other equities analysts also recently weighed in on LPLA. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Keefe, Bruyette & Woods cut their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. UBS Group increased their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, TD Cowen lifted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Performance

NASDAQ LPLA opened at $273.98 on Monday. The stock has a fifty day simple moving average of $235.38 and a 200 day simple moving average of $248.45. LPL Financial has a twelve month low of $187.19 and a twelve month high of $291.67. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis.

Hedge Funds Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of LPLA. Boston Partners grew its stake in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the period. TD Asset Management Inc lifted its stake in shares of LPL Financial by 33.2% in the 1st 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 during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of 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 purchasing an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after buying an additional 183,755 shares during the period. Finally, Coronation Fund Managers Ltd. increased its stake in shares of LPL Financial by 159.5% in the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after purchasing an additional 183,290 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 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.