Analysts predict that LPL Financial Holdings Inc (NASDAQ:LPLA) will post $1.36 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LPL Financial’s earnings. The lowest sales estimate is $1.35 billion and the highest is $1.37 billion. LPL Financial posted sales of $1.12 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 21.4%. The business is expected to report its next earnings results on Thursday, February 7th.
On average, analysts expect that LPL Financial will report full-year sales of $5.20 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.24 billion. For the next year, analysts forecast that the business will report sales of $5.46 billion, with estimates ranging from $5.38 billion to $5.56 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for LPL Financial.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 25th. The financial services provider reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%.
LPL Financial stock traded up $0.68 on Wednesday, reaching $64.17. 724,294 shares of the stock were exchanged, compared to its average volume of 680,012. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 0.82 and a beta of 1.59. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.40 and a quick ratio of 1.40. LPL Financial has a twelve month low of $50.35 and a twelve month high of $73.28.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Thursday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. LPL Financial’s payout ratio is 33.33%.
In other news, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $63.00, for a total transaction of $378,000.00. Following the transaction, the insider now owns 19,811 shares in the company, valued at approximately $1,248,093. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Burton White sold 23,893 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $66.00, for a total transaction of $1,576,938.00. Following the transaction, the director now owns 50,582 shares in the company, valued at approximately $3,338,412. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,143 shares of company stock worth $1,971,038. Insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LPLA. American Century Companies Inc. bought a new stake in LPL Financial in the third quarter valued at about $47,906,000. FMR LLC increased its stake in LPL Financial by 35.4% in the third quarter. FMR LLC now owns 1,971,605 shares of the financial services provider’s stock valued at $127,189,000 after acquiring an additional 515,091 shares during the period. Frontier Capital Management Co. LLC increased its stake in LPL Financial by 28.8% in the second quarter. Frontier Capital Management Co. LLC now owns 2,246,192 shares of the financial services provider’s stock valued at $147,215,000 after acquiring an additional 502,850 shares during the period. Renaissance Technologies LLC increased its stake in LPL Financial by 58.6% in the second quarter. Renaissance Technologies LLC now owns 1,219,400 shares of the financial services provider’s stock valued at $79,919,000 after acquiring an additional 450,500 shares during the period. Finally, Soros Fund Management LLC increased its stake in LPL Financial by 106.6% in the second quarter. Soros Fund Management LLC now owns 571,971 shares of the financial services provider’s stock valued at $37,487,000 after acquiring an additional 295,171 shares during the period. 96.31% of the stock is currently owned by institutional investors and hedge funds.
About LPL Financial
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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