LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) – Stock analysts at William Blair reduced their Q3 2023 earnings estimates for LPL Financial in a research note issued to investors on Thursday, July 13th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $3.97 per share for the quarter, down from their prior estimate of $4.01. The consensus estimate for LPL Financial’s current full-year earnings is $16.52 per share. William Blair also issued estimates for LPL Financial’s Q4 2023 earnings at $4.24 EPS.
Other research analysts have also recently issued reports about the stock. StockNews.com started coverage on shares of LPL Financial in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Citigroup decreased their price objective on shares of LPL Financial from $290.00 to $230.00 and set a “buy” rating on the stock in a research report on Tuesday, April 11th. Bank of America decreased their price objective on shares of LPL Financial from $246.00 to $228.00 and set a “neutral” rating on the stock in a research report on Thursday, April 13th. UBS Group decreased their price objective on shares of LPL Financial from $215.00 to $210.00 in a research report on Friday, April 28th. Finally, Jefferies Financial Group upped their price objective on shares of LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $236.78.
LPL Financial Trading Down 0.5 %
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.14. LPL Financial had a net margin of 11.74% and a return on equity of 55.42%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.39 billion.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, May 17th. LPL Financial’s dividend payout ratio is 9.22%.
Insider Transactions at LPL Financial
In other news, Director William Francis Glavin, Jr. bought 557 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were purchased at an average price of $180.23 per share, for a total transaction of $100,388.11. Following the completion of the acquisition, the director now owns 2,775 shares of the company’s stock, valued at $500,138.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Xponance Inc. grew its holdings in shares of LPL Financial by 1.3% in the second quarter. Xponance Inc. now owns 11,025 shares of the financial services provider’s stock worth $2,397,000 after purchasing an additional 141 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in LPL Financial by 3.9% in the second quarter. Redhawk Wealth Advisors Inc. now owns 7,247 shares of the financial services provider’s stock worth $1,576,000 after acquiring an additional 275 shares during the period. Yarbrough Capital LLC purchased a new stake in LPL Financial in the second quarter worth $409,000. Heron Bay Capital Management lifted its stake in LPL Financial by 32.7% in the second quarter. Heron Bay Capital Management now owns 94,304 shares of the financial services provider’s stock worth $20,505,000 after acquiring an additional 23,217 shares during the period. Finally, MJP Associates Inc. ADV purchased a new stake in LPL Financial in the second quarter worth $217,000. Institutional investors own 93.86% 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, 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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