LPL Financial (NASDAQ:LPLA) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

LPL Financial (NASDAQ:LPLAGet Rating) released its quarterly earnings results on Thursday. The financial services provider reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.14, MarketWatch Earnings reports. LPL Financial had a return on equity of 36.57% and a net margin of 5.96%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s revenue was up 21.0% compared to the same quarter last year.

Shares of NASDAQ:LPLA traded down $5.36 during trading on Friday, hitting $187.87. 1,969,925 shares of the company traded hands, compared to its average volume of 1,159,081. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 0.60 and a beta of 1.02. The business’s fifty day moving average is $183.92 and its 200-day moving average is $174.27. LPL Financial has a one year low of $127.03 and a one year high of $220.80. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.68.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 14th. LPL Financial’s dividend payout ratio (DPR) is presently 17.61%.

LPLA has been the topic of several recent analyst reports. Citigroup boosted their price target on LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. Morgan Stanley boosted their price target on LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 13th. JMP Securities upgraded LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target on the stock in a research note on Thursday, April 7th. UBS Group cut their price objective on LPL Financial from $195.00 to $193.00 and set a “buy” rating on the stock in a research note on Tuesday, January 4th. Finally, StockNews.com started coverage on LPL Financial in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $217.25.

In other news, Director George Burton White sold 80,368 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $181.18, for a total transaction of $14,561,074.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michelle Oroschakoff sold 15,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $185.59, for a total value of $2,824,123.03. The disclosure for this sale can be found here. Insiders have sold 150,890 shares of company stock valued at $27,336,818 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of LPLA. NewEdge Advisors LLC bought a new position in LPL Financial in the 4th quarter worth approximately $272,000. EverSource Wealth Advisors LLC bought a new position in LPL Financial in the 4th quarter worth approximately $344,000. NEXT Financial Group Inc grew its holdings in LPL Financial by 91.0% in the 4th quarter. NEXT Financial Group Inc now owns 2,450 shares of the financial services provider’s stock worth $392,000 after buying an additional 1,167 shares in the last quarter. Virtu Financial LLC bought a new position in LPL Financial in the 4th quarter worth approximately $431,000. Finally, Guggenheim Capital LLC grew its holdings in LPL Financial by 28.0% in the 4th quarter. Guggenheim Capital LLC now owns 3,802 shares of the financial services provider’s stock worth $608,000 after buying an additional 831 shares in the last quarter. 98.74% of the stock is owned by institutional investors and hedge funds.

About LPL Financial (Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

Further Reading

Earnings History for LPL Financial (NASDAQ:LPLA)

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