LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.30 per share by the financial services provider on Monday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 12th.
LPL Financial has a payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Analysts expect LPL Financial to earn $29.71 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 4.0%.
LPL Financial Price Performance
Shares of LPLA opened at $305.49 on Tuesday. The firm has a market capitalization of $23.79 billion, a PE ratio of 17.53, a P/E/G ratio of 0.60 and a beta of 0.55. LPL Financial has a 52-week low of $260.15 and a 52-week high of $400.16. The stock has a 50 day simple moving average of $322.86 and a 200 day simple moving average of $320.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.62 and a current ratio of 2.62.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the company earned $5.20 earnings per share. LPL Financial’s quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts predict that LPL Financial will post 23.45 EPS for the current fiscal year.
Insider Buying and Selling at LPL Financial
In other LPL Financial news, insider Katharine Reeping sold 440 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider directly owned 1,774 shares of the company’s stock, valued at approximately $617,139.12. The trade was a 19.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the sale, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. The trade was a 14.86% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,867 shares of company stock worth $1,726,944. Insiders own 0.60% of the company’s stock.
Hedge Funds Weigh In On LPL Financial
A number of institutional investors have recently made changes to their positions in LPLA. NBH Bank bought a new stake in LPL Financial in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc raised its position in shares of LPL Financial by 79.0% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 83 shares in the last quarter. Abound Financial LLC increased its stake in shares of LPL Financial by 9,550.0% in the 1st quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 191 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of LPL Financial during the second quarter valued at approximately $59,000. Finally, Y.D. More Investments Ltd boosted its stake in LPL Financial by 250.0% in the 1st quarter. Y.D. More Investments Ltd now owns 210 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.
LPL Financial Company Profile
LPL Financial Holdings Inc provides brokerage and investment advisory services through a network of independent financial professionals. The company supports financial advisors, registered investment advisers, banks and credit unions with services designed to help them serve individual and institutional clients.
Its offerings include investment and retirement planning platforms, brokerage and advisory account services, custody, financial technology, research, compliance support and practice-management resources.
Featured Articles
- Five stocks we like better than LPL Financial
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.
