Research Analysts Set Expectations for LPL Financial Holdings Inc.’s Q2 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Stock analysts at William Blair lowered their Q2 2024 earnings per share estimates for LPL Financial in a research note issued to investors on Wednesday, May 1st. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $3.86 for the quarter, down from their previous forecast of $3.89. 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 FY2025 earnings at $20.00 EPS.

A number of other equities research analysts also recently issued reports on the stock. Barclays boosted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. UBS Group boosted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen lifted their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Raymond James assumed coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. 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. According to data from MarketBeat, LPL Financial has a consensus rating of “Hold” and a consensus target price of $276.20.

LPL Financial Trading Down 1.4 %

NASDAQ LPLA opened at $265.49 on Thursday. The company has a market cap of $19.83 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.30 and a beta of 0.83. LPL Financial has a 12 month low of $179.00 and a 12 month high of $276.12. 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 has a 50-day moving average of $264.62 and a 200-day moving average of $242.70.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.21 earnings per share.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the transaction, the director now directly owns 10,245 shares in the company, valued at $2,730,292.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,151 shares of company stock worth $15,911,088. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth about $25,000. Smithfield Trust Co grew its stake in 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 purchased a new stake in LPL Financial during the 4th quarter worth approximately $30,000. Gladius Capital Management LP acquired a new position in shares of LPL Financial in the 4th quarter valued at approximately $30,000. Finally, Riverview Trust Co purchased a new position in shares of LPL Financial during the 1st quarter valued at approximately $30,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.