Q2 2023 EPS Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA) Reduced by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) – Equities research analysts at William Blair reduced their Q2 2023 EPS estimates for shares of LPL Financial in a research report issued on Tuesday, May 23rd. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $4.07 per share for the quarter, down from their prior estimate of $4.10. The consensus estimate for LPL Financial’s current full-year earnings is $16.96 per share.

A number of other research firms also recently weighed in on LPLA. JMP Securities restated a “market outperform” rating and issued a $290.00 target price on shares of LPL Financial in a report on Monday, March 13th. UBS Group reduced their target price on shares of LPL Financial from $215.00 to $210.00 in a report on Friday, April 28th. Citigroup reduced their target price on shares of LPL Financial from $290.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, April 11th. Credit Suisse Group reduced their target price on shares of LPL Financial from $205.00 to $192.00 in a report on Friday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of LPL Financial from $256.00 to $238.00 and set a “neutral” rating on the stock in a report on Monday, April 3rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Hold” and a consensus target price of $234.75.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $198.06 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $15.38 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.37 and a beta of 0.90. The firm’s fifty day moving average is $197.83 and its two-hundred day moving average is $219.18. LPL Financial has a 52-week low of $169.68 and a 52-week high of $271.56.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. LPL Financial’s dividend payout ratio is presently 9.22%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 38,444 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.20, for a total value of $9,464,912.80. Following the completion of the sale, the chief executive officer now directly owns 154,884 shares of the company’s stock, valued at approximately $38,132,440.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other LPL Financial news, CEO Dan H. Arnold sold 38,444 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.20, for a total value of $9,464,912.80. Following the completion of the sale, the chief executive officer now directly owns 154,884 shares of the company’s stock, valued at approximately $38,132,440.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew J. Audette sold 7,111 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.17, for a total transaction of $1,750,514.87. Following the completion of the sale, the chief financial officer now directly owns 12,644 shares of the company’s stock, valued at $3,112,573.48. The disclosure for this sale can be found here. Insiders sold a total of 50,364 shares of company stock valued at $12,399,307 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the business. MCF Advisors LLC purchased a new stake in shares of LPL Financial in the 1st quarter worth approximately $26,000. First Manhattan Co. purchased a new stake in shares of LPL Financial in the 4th quarter worth approximately $27,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth approximately $32,000. Steward Financial Group LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth approximately $37,000. Finally, Ronald Blue Trust Inc. lifted its position in shares of LPL Financial by 958.8% in the 4th quarter. Ronald Blue Trust Inc. now owns 180 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.

About LPL Financial

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.