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

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders 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 0.43%. The ex-dividend date of this dividend is Thursday, November 14th.

LPL Financial has increased its dividend payment by an average of 6.3% annually over the last three years. LPL Financial has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LPL Financial to earn $18.69 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 Price Performance

Shares of NASDAQ LPLA opened at $282.18 on Friday. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The firm has a market capitalization of $21.10 billion, a PE ratio of 21.22, a P/E/G ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The business’s fifty day moving average price is $232.98 and its two-hundred day moving average price is $248.24.

LPL Financial (NASDAQ:LPLA) last issued 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 net margin of 8.73% and a return on equity of 52.08%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm posted $3.74 EPS. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that LPL Financial will post 15.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LPLA shares. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday. TD Cowen increased their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday. 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 report on Friday, October 4th. UBS Group upped their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. 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, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $284.31.

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.