Analysts Offer Predictions for LPL Financial FY2024 Earnings

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair lifted their FY2024 earnings estimates for LPL Financial in a report released on Monday, January 13th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $16.30 for the year, up from their previous forecast of $16.20. The consensus estimate for LPL Financial’s current full-year earnings is $16.10 per share.

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

Other equities analysts have also issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $288.00 to $397.00 in a report on Tuesday, January 7th. Citigroup boosted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods raised their target price on LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $351.50.

LPL Financial Trading Up 2.3 %

LPL Financial stock opened at $334.59 on Wednesday. LPL Financial has a one year low of $187.19 and a one year high of $344.86. The stock has a market cap of $25.05 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50-day moving average of $325.45 and a two-hundred day moving average of $266.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Argent Capital Management LLC boosted its stake in shares of LPL Financial by 23.8% during the 4th quarter. Argent Capital Management LLC now owns 19,147 shares of the financial services provider’s stock worth $6,252,000 after acquiring an additional 3,682 shares in the last quarter. Park Avenue Securities LLC raised its holdings in LPL Financial by 5.8% in the 4th quarter. Park Avenue Securities LLC now owns 3,849 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 210 shares during the period. Assenagon Asset Management S.A. boosted its position in LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 1,383 shares in the last quarter. Oak Thistle LLC grew its holdings in LPL Financial by 122.0% in the fourth quarter. Oak Thistle LLC now owns 1,991 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 1,094 shares during the period. Finally, Quantum Financial Advisors LLC purchased a new stake in shares of LPL Financial in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial 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 $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

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.