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

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

LPL Financial has raised its dividend payment by an average of 6.3% per year over the last three years. LPL Financial has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.0 %

Shares of NASDAQ:LPLA traded down $0.02 during trading on Friday, reaching $282.16. 80,553 shares of the stock were exchanged, compared to its average volume of 734,204. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. The stock has a fifty day moving average of $232.98 and a two-hundred day moving average of $248.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share 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 52.08%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm earned $3.74 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that LPL Financial will post 15.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LPLA. Wells Fargo & Company raised 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. JMP Securities restated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Barclays increased their target price on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley boosted their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.