LPL Financial Holdings Inc (LPLA) Announces $0.25 Quarterly Dividend

LPL Financial Holdings Inc (NASDAQ:LPLA) declared a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Investors of record on Friday, March 9th will be given a dividend of 0.25 per share by the financial services provider on Friday, March 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, March 8th.

LPLA stock traded up $1.44 during midday trading on Thursday, reaching $61.07. The company had a trading volume of 729,247 shares, compared to its average volume of 901,314. The company has a market cap of $5,354.76, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.59. LPL Financial has a 1-year low of $37.38 and a 1-year high of $66.64. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47.

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LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.52. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. analysts anticipate that LPL Financial will post 3.89 EPS for the current fiscal year.

A number of research firms recently commented on LPLA. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $73.00 price target on shares of LPL Financial in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $75.00 price target on shares of LPL Financial in a research note on Friday, February 2nd. Nomura boosted their target price on LPL Financial from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. BidaskClub raised LPL Financial from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Credit Suisse Group boosted their target price on LPL Financial from $77.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $70.50.

In other news, insider John Andrew Kalbaugh sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the completion of the transaction, the insider now owns 38,050 shares of the company’s stock, valued at $2,382,310.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marco Hellman sold 1,150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $62.12, for a total value of $71,438,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,469,435 shares of company stock valued at $92,312,374. Insiders own 4.00% of the company’s stock.

An institutional investor recently raised its position in LPL Financial stock. The Manufacturers Life Insurance Company increased its position in LPL Financial Holdings Inc (NASDAQ:LPLA) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,794 shares of the financial services provider’s stock after buying an additional 211 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in LPL Financial were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 93.61% of the company’s stock.

LPL Financial declared that its board has approved a share buyback plan on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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LPL Financial Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Dividend History for LPL Financial (NASDAQ:LPLA)

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