LPL Financial Holdings Inc. (LPLA) to Issue Quarterly Dividend of $0.30 on March 26th

LPL Financial Holdings Inc. (NASDAQ:LPLAGet Free Report) announced a quarterly dividend on Tuesday, January 30th, Zacks reports. Stockholders of record on Tuesday, March 12th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, March 26th. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 11th.

LPL Financial has increased its dividend by an average of 6.3% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. LPL Financial has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LPL Financial to earn $18.92 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 Down 1.8 %

Shares of NASDAQ LPLA opened at $263.98 on Friday. The company’s 50-day simple moving average is $247.93 and its 200-day simple moving average is $235.53. LPL Financial has a 52-week low of $179.00 and a 52-week high of $271.11. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85. 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 (NASDAQ:LPLAGet Free Report) last announced its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business earned $4.21 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts predict that LPL Financial will post 15.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the business’s 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 owns 137,044 shares in the company, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock valued at $15,911,088 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Large investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its stake in shares of LPL Financial by 218,199.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 95,191,655 shares of the financial services provider’s stock worth $20,577,580,000 after acquiring an additional 95,148,049 shares in the last quarter. Vanguard Group Inc. grew its stake in LPL Financial by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after purchasing an additional 48,439 shares in the last quarter. BlackRock Inc. increased its holdings in LPL Financial by 4.0% during the 1st quarter. BlackRock Inc. now owns 6,542,756 shares of the financial services provider’s stock worth $1,324,254,000 after purchasing an additional 250,448 shares during the period. Wellington Management Group LLP raised its position in LPL Financial by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock valued at $652,923,000 after purchasing an additional 248,255 shares in the last quarter. Finally, Samlyn Capital LLC raised its position in LPL Financial by 27.3% in the 1st quarter. Samlyn Capital LLC now owns 1,772,888 shares of the financial services provider’s stock valued at $358,833,000 after purchasing an additional 380,373 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $290.00 price target on shares of LPL Financial in a research report on Friday, February 2nd. Morgan Stanley boosted their price target on shares of LPL Financial from $252.00 to $254.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Barclays boosted their price target on shares of LPL Financial from $300.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. TD Cowen assumed coverage on shares of LPL Financial in a research report on Thursday, January 4th. They set a “market perform” rating and a $224.00 price target on the stock. Finally, Redburn Atlantic assumed coverage on shares of LPL Financial in a research report on Friday, December 1st. They set a “neutral” rating and a $240.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $255.64.

Check Out Our Latest Stock Report on LPL Financial

About LPL Financial

(Get Free Report)

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

Featured Stories

Dividend History for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.