LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) – Jefferies Financial Group lifted their FY2022 earnings per share (EPS) estimates for shares of LPL Financial in a report issued on Thursday, January 5th. Jefferies Financial Group analyst G. O’hara now expects that the financial services provider will post earnings per share of $11.28 for the year, up from their previous estimate of $10.89. The consensus estimate for LPL Financial’s current full-year earnings is $11.32 per share. Jefferies Financial Group also issued estimates for LPL Financial’s Q4 2022 earnings at $3.96 EPS, Q2 2023 earnings at $4.79 EPS, Q3 2023 earnings at $4.77 EPS, Q4 2023 earnings at $4.96 EPS and FY2023 earnings at $19.17 EPS.
Several other equities analysts have also recently weighed in on LPLA. Credit Suisse Group increased their price target on LPL Financial from $276.00 to $285.00 in a report on Thursday, November 17th. UBS Group lowered LPL Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $305.00 to $230.00 in a report on Thursday, November 17th. StockNews.com started coverage on LPL Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Citigroup started coverage on LPL Financial in a research report on Tuesday, October 11th. They set a “buy” rating and a $290.00 price objective on the stock. Finally, JMP Securities lifted their price objective on LPL Financial from $245.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.33.
LPL Financial Price Performance
NASDAQ LPLA opened at $220.00 on Friday. The business’s fifty day moving average price is $229.02 and its 200-day moving average price is $220.37. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 0.21 and a beta of 0.92. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.50 and a quick ratio of 1.50. LPL Financial has a 1-year low of $140.65 and a 1-year high of $271.56.
LPL Financial (NASDAQ:LPLA – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The financial services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.29. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. LPL Financial had a return on equity of 40.28% and a net margin of 7.59%.
LPL Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Thursday, November 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. LPL Financial’s dividend payout ratio is currently 12.84%.
Insider Buying and Selling
In other LPL Financial news, CAO Brent Simonich purchased 920 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were bought at an average cost of $219.15 per share, with a total value of $201,618.00. Following the acquisition, the chief accounting officer now owns 6,042 shares in the company, valued at $1,324,104.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Brent Simonich acquired 920 shares of LPL Financial stock in a transaction on Friday, November 18th. The shares were acquired at an average price of $219.15 per share, with a total value of $201,618.00. Following the purchase, the chief accounting officer now directly owns 6,042 shares in the company, valued at approximately $1,324,104.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 20,000 shares of LPL Financial stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $257.09, for a total value of $5,141,800.00. Following the completion of the sale, the chief financial officer now directly owns 12,667 shares in the company, valued at approximately $3,256,559.03. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Institutional Trading or LPL Financial
A number of large investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its position in LPL Financial by 22.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 41 shares during the last quarter. Sanchez Wealth Management Group grew its position in LPL Financial by 4.6% in the 3rd quarter. Sanchez Wealth Management Group now owns 1,571 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 69 shares during the last quarter. Advisors Asset Management Inc. grew its position in LPL Financial by 0.9% in the 1st quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 75 shares during the last quarter. CWM LLC lifted its holdings in shares of LPL Financial by 8.5% in the 3rd quarter. CWM LLC now owns 1,018 shares of the financial services provider’s stock worth $222,000 after buying an additional 80 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of LPL Financial by 1.1% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 7,919 shares of the financial services provider’s stock worth $1,461,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 94.89% of the company’s stock.
About LPL Financial
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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.
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