LPL Financial Holdings Inc. (LPLA) to Distribute Quarterly Dividend of $0.30 on August 28th

LPL Financial Holdings Inc. (NASDAQ:LPLA) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Friday, August 14th will be given a dividend of 0.30 per share by the financial services provider on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 14th.

LPL Financial has raised its dividend payment by an average of 0.0%annually over the last three years. LPL Financial has a payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Analysts expect LPL Financial to earn $29.97 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 4.0%.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $371.19 on Wednesday. The firm has a market cap of $29.23 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial has a 52 week low of $260.15 and a 52 week high of $400.16. The business’s fifty day simple moving average is $314.01 and its 200-day simple moving average is $315.44.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the company earned $4.51 EPS. Equities analysts forecast that LPL Financial will post 24.09 earnings per share for the current year.

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.