LPL Financial Holdings Inc. (NASDAQ:LPLA) – Analysts at SunTrust Banks upped their Q3 2017 earnings per share estimates for LPL Financial Holdings in a report released on Friday. SunTrust Banks analyst D. Mewhirter now expects that the financial services provider will earn $0.66 per share for the quarter, up from their prior forecast of $0.60. SunTrust Banks has a “Hold” rating and a $42.00 price target on the stock. SunTrust Banks also issued estimates for LPL Financial Holdings’ Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.66 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.76 EPS and FY2018 earnings at $3.06 EPS.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.97%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS.
Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods set a $44.00 target price on shares of LPL Financial Holdings and gave the company a “hold” rating in a research note on Thursday, April 6th. Instinet raised shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $51.00 in a research note on Friday, April 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $38.00 target price (up from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. Citigroup Inc. raised their target price on shares of LPL Financial Holdings from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Zacks Investment Research cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.73.
LPL Financial Holdings (NASDAQ LPLA) opened at 45.76 on Monday. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 19.88 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 stock’s 50 day moving average is $42.97 and its 200-day moving average is $40.67.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. LPL Financial Holdings’s payout ratio is 43.48%.
In related news, insider William P. Jr. Morrissey sold 32,150 shares of LPL Financial Holdings stock in a transaction dated 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 completion of the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LPLA. Public Employees Retirement Association of Colorado increased its position in LPL Financial Holdings by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after buying an additional 52 shares during the period. Tyers Asset Management LLC acquired a new position in LPL Financial Holdings during the first quarter worth approximately $138,000. James Investment Research Inc. acquired a new position in LPL Financial Holdings during the first quarter worth approximately $142,000. SG Americas Securities LLC acquired a new position in LPL Financial Holdings during the first quarter worth approximately $171,000. Finally, Elkfork Partners LLC acquired a new position in LPL Financial Holdings during the first quarter worth approximately $190,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.
LPL Financial Holdings Company Profile
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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