Q2 2024 Earnings Estimate for LPL Financial Holdings Inc. (NASDAQ:LPLA) Issued By William Blair

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for LPL Financial in a report issued on Wednesday, July 10th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $3.65 per share for the quarter, down from their prior estimate of $3.82. 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 Q3 2024 earnings at $3.66 EPS, Q4 2024 earnings at $4.28 EPS and FY2024 earnings at $15.80 EPS.

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

Other analysts have also issued research reports about the company. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. TD Cowen lifted their price objective on shares of LPL Financial from $271.00 to $279.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their target price on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barclays decreased their price target on shares of LPL Financial from $319.00 to $313.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group raised their price objective on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $285.20.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $263.66 on Thursday. The firm’s 50-day simple moving average is $276.39 and its 200 day simple moving average is $261.82. The stock has a market cap of $19.70 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.09 and a beta of 0.90. LPL Financial has a fifty-two week low of $200.18 and a fifty-two week high of $289.88. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

Institutional Trading of LPL Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of LPL Financial by 0.7% during the 4th 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 during the last quarter. Boston Partners lifted 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 valued at $466,434,000 after acquiring an additional 738,509 shares during the last quarter. TD Asset Management Inc grew its position in LPL Financial by 33.2% in 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 acquiring an additional 275,286 shares in the last quarter. Bank of New York Mellon Corp grew its position in LPL Financial by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock worth $256,472,000 after acquiring an additional 23,890 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in shares of LPL Financial by 19.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after purchasing an additional 153,072 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares in the company, valued at approximately $39,546,624.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. LPL Financial’s payout ratio is presently 9.06%.

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.