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

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders 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 dividend yield of 0.45%. The ex-dividend date is Monday, May 20th.

LPL Financial has raised its dividend by an average of 6.3% per year over the last three years and has raised its dividend every year for the last 1 years. LPL Financial has a dividend payout ratio of 6.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NASDAQ LPLA traded up $3.91 during midday trading on Thursday, hitting $269.40. 5,233 shares of the company’s stock were exchanged, compared to its average volume of 535,915. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. LPL Financial has a 12 month low of $179.00 and a 12 month high of $276.12. The company’s 50 day moving average price is $264.62 and its 200 day moving average price is $242.70. The firm has a market capitalization of $20.12 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.21 EPS. As a group, analysts predict that LPL Financial will post 15.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group boosted their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday. TD Cowen boosted their price target on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $276.20.

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the business’s 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 owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dan H. Arnold sold 10,000 shares of the business’s 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 owns 137,044 shares in the company, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 7,089 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $265.66, for a total value of $1,883,263.74. Following the sale, the chief executive officer now owns 133,169 shares in the company, valued at approximately $35,377,676.54. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 in the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Company Profile

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.