LPL Financial Holdings Inc. (LPLA) to Issue Quarterly Dividend of $0.30 on June 12th

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 30th will be given a dividend of 0.30 per share by the financial services provider on Thursday, June 12th. This represents a $1.20 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, May 30th.

LPL Financial has raised its dividend payment by an average of 6.3% annually over the last three years. LPL Financial has a dividend payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. 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

NASDAQ:LPLA opened at $360.42 on Friday. The firm’s 50-day moving average is $320.64 and its 200-day moving average is $329.38. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a 52-week low of $187.19 and a 52-week high of $384.04.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the company posted $3.83 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that LPL Financial will post 19.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on LPLA shares. UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup lowered their target price on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Barclays dropped their target price on LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $371.50.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

About LPL Financial

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.