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

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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th.

LPL Financial has raised its dividend by an average of 6.3% annually 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 Up 1.8 %

LPLA opened at $317.93 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $244.34 and its two-hundred day moving average price is $249.92. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $321.92. The company has a market capitalization of $23.81 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.53 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company earned $3.74 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts anticipate that LPL Financial will post 16.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on LPLA. Keefe, Bruyette & Woods reduced their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One investment 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. According to MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and an average 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.