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

Key Points

• LPL Financial Holdings Inc. will issue a quarterly dividend of $0.30 per share, payable to shareholders of record on August 15th.
• The company's earnings per share for the last quarter exceeded estimates, reporting $4.51 against a consensus estimate of $4.45.
• LPL Financial is currently trading down 0.8%, with a market cap of $31.65 billion and a P/E ratio of 27.39.

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Friday, August 15th will be paid a dividend of 0.30 per share by the financial services provider on Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th.

LPL Financial has a dividend payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.1%

NASDAQ LPLA traded down $0.51 on Monday, hitting $369.40. 241,701 shares of the company were exchanged, compared to its average volume of 821,747. The company has a market cap of $29.54 billion, a PE ratio of 25.26, a PEG ratio of 0.90 and a beta of 0.66. LPL Financial has a 12 month low of $187.19 and a 12 month high of $403.58. The stock has a fifty day moving average of $378.53 and a 200-day moving average of $355.09. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 47.01%. The firm's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.88 EPS. As a group, analysts forecast that LPL Financial will post 19.35 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the completion of the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% 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. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LPLA. Dodge & Cox grew its position in LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after purchasing an additional 1,053,351 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after buying an additional 971,814 shares during the last quarter. Jennison Associates LLC raised its stake in shares of LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after buying an additional 851,115 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of LPL Financial by 550.5% during the 1st quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider's stock worth $248,367,000 after buying an additional 642,503 shares during the last quarter. Finally, Egerton Capital UK LLP raised its stake in shares of LPL Financial by 238.1% during the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock worth $285,026,000 after buying an additional 613,555 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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.