LPL Financial Holdings Inc. (NASDAQ:LPLA) – Equities researchers at William Blair cut their Q4 2017 EPS estimates for LPL Financial Holdings in a research note issued to investors on Friday. William Blair analyst C. Shutler now anticipates that the financial services provider will post earnings of $0.70 per share for the quarter, down from their prior forecast of $0.72.
Several other equities research analysts have also recently weighed in on LPLA. SunTrust Banks, Inc. restated a “hold” rating and set a $42.00 target price on shares of LPL Financial Holdings in a report on Thursday, April 6th. Keefe, Bruyette & Woods set a $44.00 target price on LPL Financial Holdings and gave the company a “hold” rating in a report on Thursday, April 6th. Nomura restated a “hold” rating and set a $46.00 target price on shares of LPL Financial Holdings in a report on Sunday, April 9th. Zacks Investment Research cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Instinet upgraded LPL Financial Holdings from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $51.00 in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.73.
LPL Financial Holdings (NASDAQ:LPLA) traded down 0.74% during trading on Monday, reaching $45.42. The company’s stock had a trading volume of 209,135 shares. The stock has a 50-day moving average price of $42.97 and a 200 day moving average price of $40.67. LPL Financial Holdings has a 52-week low of $24.46 and a 52-week high of $46.62. The company has a market cap of $4.10 billion, a PE ratio of 19.73 and a beta of 1.82.
LPL Financial Holdings (NASDAQ:LPLA) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. LPL Financial Holdings had a return on equity of 26.97% and a net margin of 5.10%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC acquired a new position in LPL Financial Holdings during the first quarter worth approximately $190,000. AQR Capital Management LLC acquired a new position in LPL Financial Holdings during the fourth quarter worth approximately $1,201,000. Waratah Capital Advisors Ltd. acquired a new position in LPL Financial Holdings during the first quarter worth approximately $379,000. Bogle Investment Management L P DE acquired a new position in LPL Financial Holdings during the first quarter worth approximately $1,296,000. Finally, Legal & General Group Plc raised its position in LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after buying an additional 19,923 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the transaction, the insider now owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.70% of the company’s stock.
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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, August 8th. LPL Financial Holdings’s payout ratio is 43.48%.
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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