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

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders 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 yield of 0.43%. The ex-dividend date 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% meaning its dividend is sufficiently covered by earnings. 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 LPLA stock traded down $1.37 on Friday, reaching $280.81. The company's stock had a trading volume of 1,022,141 shares, compared to its average volume of 738,729. The company has a market capitalization of $20.99 billion, a P/E ratio of 21.12, a PEG ratio of 1.43 and a beta of 0.88. LPL Financial has a 12-month low of $187.19 and a 12-month high of $291.67. The stock's 50 day simple moving average is $234.24 and its 200-day simple moving average is $248.48. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results 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 52.08% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter last year, the firm posted $3.74 EPS. The company's revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial will post 15.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th. UBS Group raised their price target on LPL Financial from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. TD Cowen upped their price objective on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a report on Thursday. Finally, StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, LPL Financial has an average 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.