LPL Financial (NASDAQ:LPLA) Releases Earnings Results, Beats Expectations By $0.31 EPS

LPL Financial (NASDAQ:LPLA) issued its quarterly earnings results on Tuesday. The financial services provider reported $5.97 earnings per share for the quarter, beating analysts’ consensus estimates of $5.66 by $0.31, FiscalAI reports. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.35 billion.

LPL Financial Trading Up 0.1%

NASDAQ LPLA traded up $0.33 during trading hours on Tuesday, hitting $317.56. The company’s stock had a trading volume of 1,034,214 shares, compared to its average volume of 888,092. LPL Financial has a twelve month low of $260.15 and a twelve month high of $400.16. The firm has a market capitalization of $25.00 billion, a P/E ratio of 25.32, a PEG ratio of 0.54 and a beta of 0.53. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a fifty day moving average of $336.26 and a 200 day moving average of $324.51.

Analyst Ratings Changes

LPLA has been the topic of several research reports. TD Cowen upped their price objective on LPL Financial from $377.00 to $380.00 and gave the stock a “hold” rating in a report on Monday, October 12th. BMO Capital Markets lowered their target price on LPL Financial from $390.00 to $370.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Wolfe Research restated an “outperform” rating and set a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price target on shares of LPL Financial in a research note on Monday, October 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $409.69.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the transaction, the director owned 6,107 shares of the company’s stock, valued at $2,182,397.52. This represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the transaction, the director owned 23,602 shares in the company, valued at $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,867 shares of company stock worth $2,079,664 over the last quarter. 0.60% of the stock is currently owned by insiders.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.