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

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Thursday, July 30th. Investors of record on Friday, August 14th will be given a dividend of 0.30 per share by the financial services provider on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 14th.

LPL Financial has raised its dividend by an average of 0.0%annually over the last three years. LPL Financial has a payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect LPL Financial to earn $28.96 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 4.1%.

LPL Financial Stock Up 0.4%

LPLA stock opened at $339.17 on Friday. The firm has a market capitalization of $27.13 billion, a PE ratio of 30.28, a P/E/G ratio of 0.66 and a beta of 0.50. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. LPL Financial has a twelve month low of $260.15 and a twelve month high of $403.58. The stock’s 50 day moving average is $300.40 and its 200-day moving average is $316.01.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.51 earnings per share. Sell-side analysts expect that LPL Financial will post 23.38 EPS for the current fiscal year.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its stake 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 worth $1,153,000 after purchasing an additional 1,055 shares during the period. Goldman Sachs Group Inc. increased its holdings in LPL Financial by 0.5% during the 1st 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 during the period. Woodline Partners LP bought a new stake in LPL Financial during the 1st quarter worth approximately $1,636,000. Focus Partners Wealth lifted its stake in LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in LPL Financial in the 1st quarter worth approximately $121,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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.