William Blair Reduces Earnings Estimates for LPL Financial

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities research analysts at William Blair dropped their Q4 2024 EPS estimates for LPL Financial in a research report issued on Monday, October 14th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $3.98 for the quarter, down from their previous forecast of $4.14. The consensus estimate for LPL Financial’s current full-year earnings is $15.79 per share.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.94 EPS.

Other equities research analysts have also recently issued reports about the stock. Citigroup lowered their price objective on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. UBS Group raised their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $277.77.

LPL Financial Stock Up 2.9 %

LPL Financial stock opened at $262.22 on Wednesday. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The stock’s fifty day moving average is $223.10 and its two-hundred day moving average is $248.28. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th 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 Friday, August 9th. LPL Financial’s payout ratio is 9.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial in the second quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the 2nd quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of LPL Financial during the 1st quarter worth $30,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial during the 3rd quarter worth $34,000. Finally, Crewe Advisors LLC raised its position in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Company Profile

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.