LPL Financial Holdings Inc. (NASDAQ:LPLA) has reached an impressive milestone, with its stock price soaring to an all-time high of $331. With a market capitalization of $24.7 billion and strong financial health scores from InvestingPro, the company demonstrates robust fundamentals. This peak represents a significant achievement for the firm, reflecting a robust performance that has caught the attention of investors and market analysts alike. Over the past year, LPLA has witnessed a remarkable growth trajectory, with a total return of 47.9% and impressive revenue growth of 18.2%. The company maintains a healthy current ratio of 6.48, while seven analysts have revised their earnings upward for the upcoming period. This surge in stock value underscores the company's strong financial health and the positive sentiment surrounding its future prospects in the investment brokerage industry. Get deeper insights into LPLA's valuation and 12+ additional ProTips with InvestingPro's comprehensive research report.
In other recent news, LPL Financial Holdings Inc. reported robust growth in its third quarter of 2024. The company announced total assets of $1.6 trillion and organic net new assets of $27 billion, indicating a 7% annualized growth rate. Adjusted earnings per share (EPS) were reported at $4.16 for the quarter. LPL Financial also highlighted its recruitment success, bringing in $26 billion in assets in Q3 and reaching a record $87 billion over the past 12 months.
The company is set to onboard the wealth management businesses of Prudential (LON:PRU) Financial (NYSE:PRU) and Wintrust Financial (NASDAQ:WTFC) by early 2025, which is expected to contribute approximately $76 billion in assets. Moreover, the recent acquisition of Atria Wealth Solutions added 2,200 advisors, with an 80% expected retention rate. LPL Financial is also set to acquire The Investment Center in the first half of 2025.
Despite an increase in Q3 regulatory expenses to $25 million due to an SEC settlement charge, the company maintains a strategic focus on the institutional channel and private wealth sector, aiming to unlock a combined opportunity of $6 trillion. These developments reflect the ongoing growth and strategic initiatives of LPL Financial.
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