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

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

LPL Financial has raised its dividend by an average of 6.3% per year over the last three years. LPL Financial has a dividend payout ratio of 6.3% indicating that 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

LPLA opened at $316.31 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50-day simple moving average is $246.29 and its 200 day simple moving average is $250.28. The firm has a market capitalization of $23.69 billion, a PE ratio of 23.85, a PEG ratio of 1.55 and a beta of 0.85. LPL Financial has a 52-week low of $187.19 and a 52-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 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.74 EPS. As a group, sell-side analysts expect that LPL Financial will post 16.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LPLA shares. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. Jefferies Financial Group lowered their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Keefe, Bruyette & Woods cut their price objective 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. The Goldman Sachs Group boosted their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target 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.