FY2024 EPS Estimate for LPL Financial Increased by Analyst

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of LPL Financial in a research report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $15.87 for the year, up from their previous forecast of $15.67. The consensus estimate for LPL Financial’s current full-year earnings is $16.08 per share. Zacks Research also issued estimates for LPL Financial’s FY2026 earnings at $20.49 EPS.

LPLA has been the topic of several other reports. TD Cowen increased their price target on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Barclays boosted their price target on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $326.85 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $24.47 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The firm has a 50-day moving average price of $263.32 and a two-hundred day moving average price of $252.97. LPL Financial has a twelve month low of $187.19 and a twelve month high of $327.55.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $3.74 earnings per share.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. LPL Financial’s payout ratio is 9.02%.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners grew its stake in shares of LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the period. FMR LLC grew its position in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Southpoint Capital Advisors LP increased its stake in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after acquiring an additional 233,242 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in shares of LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock worth $115,635,000 after purchasing an additional 223,931 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.