LPL Financial Holdings Inc. (NASDAQ:LPLA) Plans Quarterly Dividend of $0.30

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, March 10th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 10th.

LPL Financial has raised its dividend payment 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 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

LPLA stock traded down $8.08 during trading on Friday, hitting $354.64. The company had a trading volume of 327,725 shares, compared to its average volume of 573,126. The firm has a 50-day moving average price of $365.83 and a 200-day moving average price of $358.40. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The firm has a market cap of $28.38 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 0.79 and a beta of 0.57. LPL Financial has a 1-year low of $262.83 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.41. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $4.25 earnings per share. On average, analysts expect that LPL Financial will post 19.35 earnings per share for the current year.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the sale, the director directly owned 5,502 shares of the company’s stock, valued at approximately $1,939,344.96. The trade was a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.99, for a total value of $1,876,467.42. Following the transaction, the chief executive officer directly owned 9,326 shares in the company, valued at approximately $3,459,852.74. This represents a 35.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,388 shares of company stock worth $2,747,538. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Several large investors have recently made changes to their positions in LPLA. NewEdge Advisors LLC increased its holdings 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 valued at $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after purchasing an additional 1,089 shares during the period. Woodline Partners LP acquired a new stake in LPL Financial during the 1st quarter valued at $1,636,000. Focus Partners Wealth increased its stake in LPL Financial by 12.2% during the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 473 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of LPL Financial during the first quarter valued at about $121,000. Institutional investors and hedge funds 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.