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

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Thursday, November 14th will be given a dividend of 0.30 per share by the financial services provider on Monday, December 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th.

LPL Financial has raised its dividend payment by an average of 6.3% annually over the last three years. LPL Financial has a dividend payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Analysts expect LPL Financial to earn $18.70 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 6.4%.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $316.31 on Wednesday. The company’s 50 day moving average price is $246.29 and its two-hundred day moving average price is $250.28. The firm has a market capitalization of $23.69 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.55 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $321.92.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that LPL Financial will post 16.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

LPLA has been the subject of several recent research reports. The Goldman Sachs Group upped their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday. TD Cowen increased their price objective on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lowered their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

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.