LPL Financial Holdings Inc. (NASDAQ:LPLA) – Research analysts at SunTrust Banks increased their Q1 2018 earnings estimates for shares of LPL Financial Holdings in a note issued to investors on Wednesday. SunTrust Banks analyst D. Mewhirter now expects that the financial services provider will earn $0.82 per share for the quarter, up from their prior estimate of $0.80. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock. SunTrust Banks also issued estimates for LPL Financial Holdings’ Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.93 EPS and FY2018 earnings at $3.40 EPS.
Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 target price on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $51.00 target price (up from $48.00) on shares of LPL Financial Holdings in a research note on Friday. Nomura increased their target price on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, July 4th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $38.00 target price (up from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.36.
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Shares of LPL Financial Holdings (LPLA) opened at 46.07 on Thursday. The stock has a 50 day moving average of $44.69 and a 200-day moving average of $41.35. The firm has a market capitalization of $4.14 billion, a P/E ratio of 20.01 and a beta of 1.84. LPL Financial Holdings has a 52-week low of $27.65 and a 52-week high of $48.56.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio (DPR) is currently 43.48%.
In other news, insider William P. Jr. Morrissey sold 32,150 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new stake in LPL Financial Holdings during the second quarter valued at $399,202,000. BlackRock Inc. raised its position in LPL Financial Holdings by 11,835.9% in the first quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock valued at $139,907,000 after buying an additional 3,483,173 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in LPL Financial Holdings during the first quarter valued at approximately $46,765,000. Vanguard Group Inc. raised its position in LPL Financial Holdings by 16.7% in the first quarter. Vanguard Group Inc. now owns 7,952,138 shares of the financial services provider’s stock valued at $316,734,000 after buying an additional 1,136,785 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in LPL Financial Holdings by 13.1% in the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after buying an additional 1,038,731 shares in the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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