LPL Financial Holdings Inc (LPLA) To Go Ex-Dividend on November 7th

LPL Financial Holdings Inc (NASDAQ:LPLA) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Thursday, November 8th will be paid a dividend of 0.25 per share by the financial services provider on Monday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, November 7th.

LPL Financial has raised its dividend payment by an average of 1.4% annually over the last three years. LPL Financial has a payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LPL Financial to earn $6.10 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 16.4%.

Shares of LPL Financial stock opened at $62.90 on Tuesday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.81 and a beta of 1.59. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.40 and a quick ratio of 1.40. LPL Financial has a 12-month low of $48.13 and a 12-month high of $73.28.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.08. LPL Financial had a return on equity of 41.69% and a net margin of 7.68%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. As a group, equities analysts predict that LPL Financial will post 5.16 EPS for the current fiscal year.

In other news, Director Michelle Oroschakoff sold 6,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $67.11, for a total value of $402,660.00. Following the completion of the sale, the director now directly owns 19,811 shares of the company’s stock, valued at $1,329,516.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $83.00 price objective on shares of LPL Financial in a research report on Friday, July 27th. Wells Fargo & Co increased their price objective on LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. BidaskClub raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 21st. Zacks Investment Research cut LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Morgan Stanley reduced their price objective on LPL Financial from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $78.18.

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Dividend History for LPL Financial (NASDAQ:LPLA)

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