Q3 2023 Earnings Forecast for LPL Financial Holdings Inc. Issued By William Blair (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) – William Blair lifted their Q3 2023 earnings estimates for shares of LPL Financial in a research note issued on Tuesday, May 23rd. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $4.01 per share for the quarter, up from their prior forecast of $3.99. The consensus estimate for LPL Financial’s current full-year earnings is $16.96 per share. William Blair also issued estimates for LPL Financial’s Q4 2023 earnings at $4.43 EPS.

LPLA has been the subject of a number of other reports. StockNews.com began coverage on shares of LPL Financial in a research report on Thursday, May 18th. They set a “hold” rating for the company. Bank of America cut their target price on shares of LPL Financial from $246.00 to $228.00 and set a “neutral” rating for the company in a research report on Thursday, April 13th. UBS Group cut their target price on shares of LPL Financial from $215.00 to $210.00 in a research report on Friday, April 28th. Credit Suisse Group cut their target price on shares of LPL Financial from $205.00 to $192.00 in a research report on Friday, April 28th. Finally, Morgan Stanley lowered their price target on shares of LPL Financial from $244.00 to $213.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 11th. 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 MarketBeat, LPL Financial presently has a consensus rating of “Hold” and a consensus price target of $234.75.

LPL Financial Stock Down 1.7 %

LPLA opened at $193.61 on Thursday. The company has a fifty day moving average price of $197.92 and a 200-day moving average price of $219.33. The firm has a market capitalization of $15.04 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.90. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.73 and a quick ratio of 1.73. LPL Financial has a one year low of $169.68 and a one year high of $271.56.

Institutional Investors Weigh In On LPL Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. MCF Advisors LLC purchased a new stake in shares of LPL Financial during the first quarter valued at approximately $26,000. First Manhattan Co. purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $27,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $32,000. Steward Financial Group LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $37,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of LPL Financial by 958.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 180 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.

Insider Buying and Selling

In related news, Director William Francis Glavin, Jr. purchased 557 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average cost of $180.23 per share, with a total value of $100,388.11. Following the completion of the purchase, the director now directly owns 2,775 shares in the company, valued at $500,138.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William Francis Glavin, Jr. purchased 557 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average cost of $180.23 per share, with a total value of $100,388.11. Following the completion of the purchase, the director now directly owns 2,775 shares in the company, valued at $500,138.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 7,111 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was 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 owns 12,644 shares in the company, valued at approximately $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 over the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Dividend Announcement

The business 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, May 17th. LPL Financial’s payout ratio is currently 9.22%.

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.