Zacks Research Analysts Cut Earnings Estimates for LPL Financial Holdings Inc. (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for LPL Financial in a report issued on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $3.80 per share for the quarter, down from their prior forecast of $3.85. The consensus estimate for LPL Financial’s current full-year earnings is $15.86 per share. Zacks Research also issued estimates for LPL Financial’s Q4 2024 earnings at $4.07 EPS, FY2024 earnings at $15.76 EPS, Q2 2025 earnings at $4.73 EPS, Q4 2025 earnings at $5.23 EPS, FY2025 earnings at $19.26 EPS and FY2026 earnings at $22.69 EPS.

LPLA has been the topic of several other reports. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Raymond James assumed coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating on the stock. UBS Group boosted their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, LPL Financial has an average rating of “Hold” and an average price target of $276.20.

LPL Financial Trading Up 0.7 %

LPL Financial stock opened at $274.49 on Wednesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The business’s 50-day simple moving average is $265.73 and its 200-day simple moving average is $247.64. The firm has a market capitalization of $20.51 billion, a PE ratio of 20.73, a PEG ratio of 1.08 and a beta of 0.83. LPL Financial has a 52 week low of $190.13 and a 52 week high of $277.31.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. DGS Capital Management LLC boosted its position in shares of LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of 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 worth $124,000 after purchasing an additional 47 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of LPL Financial by 0.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after purchasing an additional 48 shares during the last quarter. Covestor Ltd boosted its position in shares of LPL Financial by 13.6% in the 3rd quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 50 shares during the last quarter. Finally, CWM LLC raised its stake in LPL Financial by 6.0% during the 4th quarter. CWM LLC now owns 985 shares of the financial services provider’s stock worth $224,000 after buying an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Transactions at LPL Financial

In other news, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now directly owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now directly owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.52, for a total value of $1,485,582.48. Following the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $3,641,462.76. The disclosure for this sale can be found here. Insiders have sold 41,681 shares of company stock valued at $11,109,490 in the last three months. 1.30% of the stock is owned by corporate insiders.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s payout ratio is currently 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.