LPL Financial Holdings Inc. (LPLA) to Issue Quarterly Dividend of $0.30 on March 24th

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Monday, January 26th. Investors of record on Tuesday, March 10th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th.

LPL Financial has raised its dividend payment by an average of 0.0%per year over the last three years. LPL Financial has a payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect LPL Financial to earn $23.34 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 5.1%.

LPL Financial Stock Performance

Shares of LPLA stock opened at $313.56 on Friday. LPL Financial has a one year low of $262.83 and a one year high of $403.58. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. The company has a 50 day moving average price of $351.42 and a 200 day moving average price of $351.72. The firm has a market capitalization of $25.11 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 0.69 and a beta of 0.59.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business earned $4.25 EPS. LPL Financial’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial will post 19.35 EPS for the current year.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 1,581 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.50, for a total transaction of $506,710.50. Following the transaction, the chief financial officer directly owned 21,382 shares of the company’s stock, valued at approximately $6,852,931. The trade was a 6.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Enyedi sold 2,109 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the completion of the transaction, the director owned 14,121 shares of the company’s stock, valued at approximately $4,520,838.15. This represents a 12.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after buying an additional 1,055 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after acquiring an additional 1,089 shares in the last quarter. Woodline Partners LP purchased a new position in LPL Financial in the first quarter valued at about $1,636,000. Focus Partners Wealth boosted its holdings in LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after purchasing an additional 473 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in LPL Financial during the 1st quarter valued at approximately $121,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.