Eisler Capital Management Ltd. Acquires New Shares in LPL Financial Holdings Inc. $LPLA

Key Points

• Eisler Capital Management Ltd. acquired 74,386 shares of LPL Financial Holdings Inc., valued at approximately $24.35 million, making it the firm's 12th largest position.
• Analysts have revised their price targets for LPL Financial, with Morgan Stanley setting a new target of $490.00, while Citigroup downgraded it to $80.00.
• LPL Financial recently reported quarterly earnings of $4.51 per share, exceeding estimates by $0.30, alongside a revenue increase of 30.8% year-over-year.

Eisler Capital Management Ltd. acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,386 shares of the financial services provider's stock, valued at approximately $24,353,000. LPL Financial comprises about 0.2% of Eisler Capital Management Ltd.'s portfolio, making the stock its 12th largest position. Eisler Capital Management Ltd. owned 0.09% of LPL Financial at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in LPL Financial by 8.9% in the first quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock valued at $627,000 after acquiring an additional 156 shares during the last quarter. Merit Financial Group LLC lifted its holdings in LPL Financial by 195.1% in the first quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock valued at $1,093,000 after acquiring an additional 2,209 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in LPL Financial by 8.8% in the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock valued at $426,846,000 after acquiring an additional 105,665 shares during the last quarter. Amalgamated Bank lifted its holdings in LPL Financial by 3.8% in the first quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider's stock valued at $1,922,000 after acquiring an additional 213 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in LPL Financial by 2,319.1% in the first quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 1,090 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on LPLA shares. Morgan Stanley restated an "overweight" rating and set a $490.00 price target (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research note on Wednesday, July 9th. JMP Securities upped their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Barclays upped their price target on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods upped their price target on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $383.58.

LPL Financial Stock Up 1.9%

LPL Financial stock opened at $367.30 on Wednesday. LPL Financial Holdings Inc. has a twelve month low of $204.41 and a twelve month high of $403.58. The stock's fifty day simple moving average is $372.83 and its 200-day simple moving average is $355.60. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $29.39 billion, a P/E ratio of 25.12, a P/E/G ratio of 0.84 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $3.88 earnings per share. The company's revenue was up 30.8% on a year-over-year basis. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio is currently 8.21%.

Insider Buying and Selling

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

About LPL Financial

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.

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