Wall Street analysts expect that LPL Financial Holdings Inc (NASDAQ:LPLA) will post $1.18 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for LPL Financial’s earnings. The lowest sales estimate is $1.16 billion and the highest is $1.20 billion. LPL Financial posted sales of $1.04 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.5%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, May 3rd.
On average, analysts expect that LPL Financial will report full-year sales of $1.18 billion for the current year, with estimates ranging from $4.81 billion to $5.12 billion. For the next year, analysts forecast that the firm will report sales of $5.20 billion per share, with estimates ranging from $4.98 billion to $5.41 billion. Zacks’ sales averages are an average based on a survey of research firms that cover LPL Financial.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.52. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion.
Shares of NASDAQ:LPLA traded down $3.41 during trading hours on Thursday, hitting $58.65. 1,409,703 shares of the company’s stock traded hands, compared to its average volume of 736,878. LPL Financial has a 1 year low of $37.38 and a 1 year high of $66.64. The firm has a market capitalization of $5,289.12, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.01 and a beta of 1.62. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.39 and a quick ratio of 1.39.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, March 8th. LPL Financial’s dividend payout ratio is presently 33.33%.
In other news, Director William P. Jr. Morrissey sold 20,000 shares of LPL Financial stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $62.74, for a total transaction of $1,254,800.00. Following the completion of the sale, the director now owns 37,541 shares of the company’s stock, valued at $2,355,322.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Andrew Kalbaugh sold 1,398 shares of LPL Financial stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $64.76, for a total transaction of $90,534.48. The disclosure for this sale can be found here. Insiders have sold 1,469,435 shares of company stock valued at $92,312,374 in the last ninety days. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of LPL Financial by 8.2% during 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 acquiring an additional 211 shares in the last quarter. Amalgamated Bank raised its stake in shares of LPL Financial by 5.8% during the fourth quarter. Amalgamated Bank now owns 17,666 shares of the financial services provider’s stock valued at $1,009,000 after acquiring an additional 973 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of LPL Financial by 140.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,278 shares in the last quarter. Teachers Advisors LLC raised its stake in LPL Financial by 0.9% in the fourth quarter. Teachers Advisors LLC now owns 214,827 shares of the financial services provider’s stock worth $12,275,000 after buying an additional 1,982 shares in the last quarter. Finally, American International Group Inc. bought a new position in LPL Financial in the fourth quarter worth approximately $119,000. 93.61% of the stock is owned by hedge funds and other institutional investors.
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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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