LPL Financial Holdings Inc. (NASDAQ:LPLA) Announces Quarterly Dividend of $0.30

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Tuesday, May 21st will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, June 4th. This represents a $1.20 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, May 20th.

LPL Financial has increased its dividend payment by an average of 6.3% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. LPL Financial has a payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LPL Financial to earn $19.11 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 6.3%.

LPL Financial Trading Up 1.8 %

Shares of LPL Financial stock traded up $4.65 during trading hours on Thursday, hitting $270.14. The company’s stock had a trading volume of 85,343 shares, compared to its average volume of 536,489. The firm has a fifty day moving average of $264.62 and a 200-day moving average of $242.70. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $20.18 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.30 and a beta of 0.83. LPL Financial has a twelve month low of $179.00 and a twelve month high of $276.12.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $4.21 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that LPL Financial will post 15.55 EPS for the current year.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Matthew Enyedi sold 1,381 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the sale, the director now owns 8,634 shares in the company, valued at approximately $2,218,419.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 over the last ninety days. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LPLA. Barclays lifted their price objective on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. TD Cowen increased their price target on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday. Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. UBS Group lifted their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $276.20.

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.