LPL Financial Holdings Inc. (NASDAQ:LPLA) – Analysts at William Blair cut their Q4 2017 earnings per share estimates for shares of LPL Financial Holdings in a research note issued on Friday. William Blair analyst C. Shutler now anticipates that the financial services provider will earn $0.70 per share for the quarter, down from their previous estimate of $0.72.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a return on equity of 26.97% and a net margin of 5.10%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year.
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A number of other equities research analysts have also weighed in on LPLA. SunTrust Banks, Inc. reissued a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a report on Thursday, April 6th. Keefe, Bruyette & Woods set a $44.00 price objective on shares of LPL Financial Holdings and gave the company a “hold” rating in a report on Thursday, April 6th. Nomura reissued a “hold” rating and set a $46.00 price objective on shares of LPL Financial Holdings in a report on Sunday, April 9th. Zacks Investment Research lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Instinet raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $51.00 in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $42.73.
LPL Financial Holdings (LPLA) traded down 0.74% during trading on Monday, hitting $45.42. The stock had a trading volume of 209,135 shares. The firm has a market cap of $4.10 billion, a P/E ratio of 19.73 and a beta of 1.82. LPL Financial Holdings has a 52-week low of $24.46 and a 52-week high of $46.62. The company has a 50-day moving average of $42.97 and a 200 day moving average of $40.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, August 8th. LPL Financial Holdings’s payout ratio is 43.48%.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total value of $1,264,781.00. Following the sale, the insider now directly owns 49,691 shares of the company’s stock, valued at $1,954,843.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake 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 during the last quarter. Point72 Asset Management L.P. purchased a new stake in LPL Financial Holdings during the first quarter valued at about $46,765,000. Vanguard Group Inc. raised its stake 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 during the last quarter. Janus Capital Management LLC raised its stake 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 during the last quarter. Finally, Principal Financial Group Inc. raised its stake in LPL Financial Holdings by 448.8% in the first quarter. Principal Financial Group Inc. now owns 985,776 shares of the financial services provider’s stock valued at $39,263,000 after buying an additional 806,159 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.
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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