LPL Financial Holdings Inc. Forecasted to Earn Q1 2024 Earnings of $3.76 Per Share (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair issued their Q1 2024 earnings estimates for LPL Financial in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt forecasts that the financial services provider will post earnings per share of $3.76 for the quarter. The consensus estimate for LPL Financial’s current full-year earnings is $15.55 per share. William Blair also issued estimates for LPL Financial’s Q4 2024 earnings at $4.36 EPS and FY2025 earnings at $19.30 EPS.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business earned $4.21 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis.

A number of other brokerages have also recently weighed in on LPLA. Raymond James began coverage on shares of LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating for the company. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen raised their target price on shares of LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. UBS Group raised their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $268.36.

LPL Financial Price Performance

NASDAQ LPLA opened at $261.12 on Monday. The firm has a market capitalization of $19.51 billion, a PE ratio of 19.13, a P/E/G ratio of 1.27 and a beta of 0.84. LPL Financial has a 12 month low of $179.00 and a 12 month high of $274.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The company’s 50 day simple moving average is $261.30 and its 200 day simple moving average is $240.01.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of LPLA. EdgeRock Capital LLC acquired a new stake in shares of LPL Financial during the 4th quarter valued at $25,000. First Manhattan Co. bought a new position in shares of LPL Financial during the 4th quarter valued at $27,000. Smithfield Trust Co raised its holdings in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of LPL Financial during the 4th quarter valued at $30,000. Finally, Gladius Capital Management LP bought a new position in shares of LPL Financial during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the completion of the sale, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the sale, the director now directly owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,151 shares of company stock valued at $15,911,088. Company insiders own 1.30% of the company’s stock.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s dividend payout ratio is 8.79%.

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.