LPL Financial Holdings Inc. (LPLA) To Go Ex-Dividend on March 10th

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Thursday, January 29th. Shareholders 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 0.3%. The ex-dividend date is Tuesday, March 10th.

LPL Financial has increased its dividend by an average of 0.0%per year over the last three years. LPL Financial has a dividend payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.5%

Shares of LPL Financial stock opened at $364.50 on Friday. The company’s 50-day moving average price is $366.24 and its 200-day moving average price is $358.36. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial has a 12-month low of $262.83 and a 12-month high of $403.58. The company has a market cap of $29.17 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 0.78 and a beta of 0.57.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, beating the consensus estimate of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 35.99%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company earned $4.25 earnings per share. LPL Financial’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts expect that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the transaction, the director directly owned 5,502 shares in the company, valued at $1,939,344.96. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total transaction of $564,645.00. Following the transaction, the director directly owned 15,370 shares in the company, valued at $5,785,729.10. This trade represents a 8.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,388 shares of company stock worth $2,747,538. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Osterweis Capital Management Inc. purchased a new stake in LPL Financial during the second quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. increased its holdings in shares of LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after buying an additional 66 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at about $27,000. Finally, SJS Investment Consulting Inc. boosted its holdings in LPL Financial by 912.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares during the period. Institutional investors 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.