LPL Financial Holdings Inc (NASDAQ:LPLA) – Investment analysts at William Blair dropped their Q4 2018 EPS estimates for LPL Financial in a research note issued to investors on Friday, October 5th. William Blair analyst C. Shutler now expects that the financial services provider will post earnings per share of $1.35 for the quarter, down from their previous estimate of $1.38. William Blair also issued estimates for LPL Financial’s Q3 2019 earnings at $1.56 EPS, Q4 2019 earnings at $1.66 EPS and FY2019 earnings at $6.49 EPS.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.10. LPL Financial had a return on equity of 35.98% and a net margin of 7.09%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.74 EPS. LPL Financial’s revenue for the quarter was up 21.9% on a year-over-year basis.
Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded LPL Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, September 8th. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, August 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $83.00 price objective on shares of LPL Financial in a report on Friday, July 27th. Wolfe Research initiated coverage on LPL Financial in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Co raised their price objective on LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. LPL Financial has an average rating of “Hold” and an average price target of $79.09.
NASDAQ LPLA opened at $64.08 on Monday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.44 and a current ratio of 1.44. LPL Financial has a twelve month low of $48.13 and a twelve month high of $73.28. The firm has a market cap of $5.68 billion, a P/E ratio of 21.36, a PEG ratio of 0.83 and a beta of 1.70.
Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Investment Consultants LLC acquired a new position in LPL Financial during the 2nd quarter worth about $111,000. Private Capital Group LLC lifted its holdings in LPL Financial by 266.9% during the 1st quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,583 shares during the period. Contravisory Investment Management Inc. acquired a new position in LPL Financial during the 2nd quarter worth about $205,000. Calamos Advisors LLC acquired a new position in LPL Financial during the 2nd quarter worth about $206,000. Finally, GAM Holding AG acquired a new position in LPL Financial during the 2nd quarter worth about $228,000. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
In other LPL Financial news, CEO Dan H. Arnold sold 6,000 shares of LPL Financial stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $66.90, for a total transaction of $401,400.00. Following the transaction, the chief executive officer now directly owns 239,761 shares of the company’s stock, valued at approximately $16,040,010.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 12,250 shares of company stock worth $820,160 over the last ninety days. Company insiders own 2.60% 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 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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