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

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, March 25th. This represents a $1.20 annualized dividend and a yield of 0.33%.

LPL Financial has raised its dividend payment by an average of 6.3% annually over the last three years. LPL Financial has a payout ratio of 5.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LPL Financial to earn $19.40 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 6.2%.

LPL Financial Price Performance

Shares of LPLA opened at $361.80 on Friday. LPL Financial has a 52 week low of $187.19 and a 52 week high of $366.00. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.11 and a beta of 0.87. The stock has a 50 day moving average of $334.85 and a 200-day moving average of $273.11.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. As a group, analysts forecast that LPL Financial will post 16.17 EPS for the current year.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of LPL Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays upped their target price on shares of LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group cut 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.50.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

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.