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

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Tuesday, May 21st will be given a dividend of 0.30 per share by the financial services provider on Tuesday, June 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, May 20th.

LPL Financial has raised its dividend payment by an average of 6.3% annually 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% meaning its dividend is sufficiently covered by earnings. Research 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 Up 1.2 %

Shares of NASDAQ:LPLA traded up $3.06 during midday trading on Thursday, hitting $268.55. 43,895 shares of the stock were exchanged, compared to its average volume of 536,042. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial has a 52-week low of $179.00 and a 52-week high of $276.12. The business’s fifty day simple moving average is $264.62 and its two-hundred day simple moving average is $242.70. The company has a market capitalization of $20.06 billion, a PE ratio of 20.05, a P/E/G ratio of 1.30 and a beta of 0.83.

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

Insider Activity

In related news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated 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 $35,131,229.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated 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 $35,131,229.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 7,089 shares of LPL Financial stock in a transaction dated 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 directly owns 133,169 shares in the company, valued at $35,377,676.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen increased their price objective on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday. UBS Group increased their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Barclays increased their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JMP Securities reissued a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, LPL Financial has an average rating of “Hold” and a consensus price target 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.