LPL Financial Holdings Inc. (LPLA) to Issue Quarterly Dividend of $0.30 on June 4th

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, June 4th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, May 21st.

LPL Financial has raised its dividend by an average of 0.0%annually over the last three years. LPL Financial has a payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LPL Financial to earn $28.14 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 4.3%.

LPL Financial Stock Performance

Shares of LPLA opened at $295.62 on Tuesday. The firm has a fifty day moving average of $307.34 and a 200-day moving average of $340.43. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 0.62 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. LPL Financial has a 1 year low of $281.51 and a 1 year high of $403.58.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, topping the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.15 earnings per share. As a group, equities analysts anticipate that LPL Financial will post 22.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on LPLA shares. JPMorgan Chase & Co. lowered their price target on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Morgan Stanley lowered their price target on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Citigroup restated a “market outperform” rating on shares of LPL Financial in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods started coverage on shares of LPL Financial in a research report on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price target for the company. Finally, Barclays upped their price target on shares of LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $398.86.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.