Analysts Anticipate LPL Financial Holdings Inc (LPLA) Will Announce Quarterly Sales of $1.18 Billion
Brokerages forecast that LPL Financial Holdings Inc (NASDAQ:LPLA) will post sales of $1.18 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for LPL Financial’s earnings, with the lowest sales estimate coming in at $1.16 billion and the highest estimate coming in at $1.20 billion. LPL Financial reported sales of $1.04 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.5%. The firm is scheduled to report its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that LPL Financial will report full year sales of $1.18 billion for the current financial year, with estimates ranging from $4.81 billion to $5.12 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.20 billion per share, with estimates ranging from $4.98 billion to $5.37 billion. Zacks’ sales averages are an average based on a survey of analysts that follow LPL Financial.
A number of analysts recently issued reports on LPLA shares. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a research report on Friday, January 5th. BidaskClub downgraded LPL Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 target price on the stock in a research note on Wednesday, January 3rd. Citigroup increased their target price on LPL Financial from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $60.00 target price (up previously from $52.00) on shares of LPL Financial in a research note on Thursday, January 4th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $68.36.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. LPL Financial’s dividend payout ratio is currently 40.00%.
LPL Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 5th that permits the company to buyback $359.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other LPL Financial news, insider John Andrew Kalbaugh sold 10,000 shares of LPL Financial stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the transaction, the insider now owns 38,050 shares in the company, valued at $2,382,310.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William P. Jr. Morrissey sold 20,000 shares of LPL Financial stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $62.74, for a total value of $1,254,800.00. Following the completion of the transaction, the director now owns 37,541 shares in the company, valued at approximately $2,355,322.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,400,134 shares of company stock worth $87,859,453. Insiders own 4.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the last quarter. Amalgamated Bank boosted its holdings in LPL Financial by 5.8% in the fourth quarter. Amalgamated Bank now owns 17,666 shares of the financial services provider’s stock worth $1,009,000 after acquiring an additional 973 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in LPL Financial by 140.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,278 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in LPL Financial by 1.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 102,460 shares of the financial services provider’s stock worth $5,284,000 after acquiring an additional 1,373 shares in the last quarter. Finally, ARP Americas LLC boosted its holdings in LPL Financial by 18.8% in the third quarter. ARP Americas LLC now owns 8,838 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 92.22% of the company’s stock.
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About LPL Financial
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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