Equities analysts expect LPL Financial Holdings Inc (NASDAQ:LPLA) to report $1.45 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for LPL Financial’s earnings, with estimates ranging from $1.44 billion to $1.46 billion. LPL Financial posted sales of $1.32 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The firm is scheduled to report its next quarterly earnings report on Thursday, January 30th.
According to Zacks, analysts expect that LPL Financial will report full-year sales of $5.57 billion for the current fiscal year, with estimates ranging from $5.45 billion to $5.64 billion. For the next financial year, analysts expect that the business will post sales of $5.93 billion, with estimates ranging from $5.88 billion to $5.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.61 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS.
Several research firms have recently weighed in on LPLA. Morgan Stanley lowered their price target on LPL Financial from $90.00 to $84.00 and set an “equal weight” rating on the stock in a report on Monday, October 14th. Citigroup raised their price target on LPL Financial from $105.00 to $110.00 and gave the company a “sell” rating in a report on Friday, November 15th. BidaskClub raised LPL Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 16th. Jefferies Financial Group assumed coverage on LPL Financial in a report on Tuesday, September 17th. They set a “buy” rating and a $96.00 price target on the stock. Finally, Credit Suisse Group decreased their price target on LPL Financial from $110.00 to $98.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. LPL Financial presently has an average rating of “Hold” and a consensus target price of $92.64.
In other news, Director George Burton White sold 51,140 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.34, for a total transaction of $4,415,427.60. Following the completion of the transaction, the director now owns 40,809 shares in the company, valued at $3,523,449.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dan H. Arnold sold 48,159 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $80.00, for a total value of $3,852,720.00. Following the transaction, the chief executive officer now owns 227,784 shares of the company’s stock, valued at approximately $18,222,720. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,600 shares of company stock valued at $12,483,871. Company insiders own 2.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of LPL Financial during the second quarter valued at $34,000. Captrust Financial Advisors grew its stake in LPL Financial by 70,000.0% during the second quarter. Captrust Financial Advisors now owns 701 shares of the financial services provider’s stock worth $57,000 after buying an additional 700 shares during the period. Tower Research Capital LLC TRC purchased a new stake in LPL Financial during the third quarter worth approximately $75,000. Advisory Services Network LLC grew its stake in LPL Financial by 59.5% during the second quarter. Advisory Services Network LLC now owns 965 shares of the financial services provider’s stock worth $79,000 after buying an additional 360 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in LPL Financial by 610.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 987 shares of the financial services provider’s stock worth $80,000 after buying an additional 848 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.
Shares of NASDAQ LPLA traded up $1.20 during midday trading on Friday, hitting $91.67. 451,207 shares of the stock traded hands, compared to its average volume of 700,405. The firm has a 50-day moving average of $85.44 and a two-hundred day moving average of $81.62. The firm has a market capitalization of $7.40 billion, a P/E ratio of 17.20, a PEG ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.33 and a current ratio of 1.33. LPL Financial has a one year low of $56.20 and a one year high of $92.99.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. LPL Financial’s payout ratio is 18.76%.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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