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

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, May 21st.

LPL Financial has raised its dividend payment by an average of 0.0%annually over the last three years. LPL Financial has a dividend payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect LPL Financial to earn $28.29 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 4.2%.

LPL Financial Price Performance

Shares of LPLA traded down $5.67 during midday trading on Friday, hitting $328.46. 174,302 shares of the company traded hands, compared to its average volume of 927,893. The firm has a 50 day moving average of $308.70 and a 200-day moving average of $342.49. LPL Financial has a 52 week low of $281.51 and a 52 week high of $403.58. The stock has a market cap of $26.34 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 0.91 and a beta of 0.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating the consensus estimate of $5.49 by $0.11. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the firm earned $5.15 EPS. The business’s revenue was up 34.6% on a year-over-year basis. On average, analysts forecast that LPL Financial will post 23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Marc Eliot Cohen sold 1,088 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total value of $336,975.36. Following the sale, the director directly owned 4,400 shares of the company’s stock, valued at $1,362,768. This represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 1,110 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total transaction of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares in the company, valued at $6,535,188.03. This trade represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,569 shares of company stock valued at $2,720,733 in the last ninety days. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of LPLA. Stratos Investment Management LLC grew its position in shares of LPL Financial by 4.2% during the third quarter. Stratos Investment Management LLC now owns 715 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 29 shares during the last quarter. Goldstein Advisors LLC grew its position in LPL Financial by 4.8% in the 4th quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $226,000 after buying an additional 29 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of LPL Financial by 4.1% during the 4th quarter. Frank Rimerman Advisors LLC now owns 785 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 31 shares in the last quarter. Coastal Bridge Advisors LLC increased its holdings in shares of LPL Financial by 0.6% in the fourth quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider’s stock valued at $1,956,000 after buying an additional 31 shares in the last quarter. Finally, PUREfi Wealth LLC increased its holdings in shares of LPL Financial by 4.7% in the third quarter. PUREfi Wealth LLC now owns 732 shares of the financial services provider’s stock valued at $244,000 after buying an additional 33 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.