LPL Financial Holdings Inc. (LPLA) To Go Ex-Dividend on August 9th

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Friday, August 9th will be paid a dividend of 0.30 per share by the financial services provider on Friday, August 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 9th.

LPL Financial has raised its dividend by an average of 6.3% per year over the last three years. LPL Financial has a payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect LPL Financial to earn $19.80 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 6.1%.

LPL Financial Trading Down 7.5 %

Shares of LPL Financial stock traded down $17.96 during trading on Friday, reaching $221.24. 2,638,501 shares of the company were exchanged, compared to its average volume of 1,440,948. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial has a twelve month low of $200.18 and a twelve month high of $289.88. The business has a 50-day moving average price of $268.42 and a 200-day moving average price of $261.65. The firm has a market capitalization of $16.53 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.95 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 54.38% and a net margin of 8.91%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm earned $3.94 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial will post 15.76 EPS for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on LPLA. TD Cowen boosted their target price on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday. JMP Securities boosted their target price on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Jefferies Financial Group upped their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Barclays reduced their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $282.55.

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.