LPL Financial FY2024 EPS Estimate Increased by William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at William Blair increased their FY2024 EPS estimates for LPL Financial in a research report issued on Monday, January 13th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $16.30 per share for the year, up from their previous estimate of $16.20. The consensus estimate for LPL Financial’s current full-year earnings is $16.07 per share.

LPLA has been the subject of several other reports. Wells Fargo & Company increased their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Barclays increased their price objective on shares of LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Citigroup increased their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Stock Performance

LPLA stock opened at $346.21 on Wednesday. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.03 and a beta of 0.87. The firm has a 50-day simple moving average of $326.88 and a two-hundred day simple moving average of $267.46. LPL Financial has a one year low of $187.19 and a one year high of $347.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.74 earnings per share.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in LPLA. FMR LLC grew its stake in shares of LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares during the period. JPMorgan Chase & Co. grew its stake in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after purchasing an additional 276,166 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of LPL Financial by 9.9% during 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 during the period. Finally, Maverick Capital Ltd. grew its stake in shares of LPL Financial by 82.0% during the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock worth $115,635,000 after purchasing an additional 223,931 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was 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.