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Interactive Brokers Group, Inc. (IBKR) - free report >>
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LPL Financial (LPLA) Announces Mixed Data for May 2016
LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for May 2016. LPL Financial recorded total brokerage and advisory assets of $486 billion at the end of May, up 0.7% from the prior month. Of these, brokerage assets stood at $291.5 billion, while advisory assets were $194 billion as of May 31, 2016.
However, LPL Financial reported $29.2 billion of total client cash sweep balances for May 2016, down 1% from Apr 2016. Of the total cash balance, $20.9 billion was insured cash while the remaining $8.3 billion was money market cash balance.
With the gradual stabilization of global equity markets, trading activities are anticipated to improve. Though this will likely benefit LPL Financial, fluctuating interest rates are expected to impact the company’s financials in the near term.
LPL Financial currently sports a Zacks Rank #1 (Strong Buy).
Performance of Other Investment Brokers
E*TRADE Financial Corporation reported a fall in its Daily Average Revenue Trades (DARTs) in the monthly market activity report for May 2016. According to the report, E*TRADE’s DARTs were 149,475, down 6% sequentially and 1% on a year-over-year basis.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year rise in its brokerage metrics for May 2016. Total client DARTs were 641,000, up 4% from May 2015 but down 3% from Apr 2016. Further, total customer accounts were 352,600, up 15% from the prior-year month and 1% from the preceding month.
TD Ameritrade Holding Corporation (AMTD - Free Report) came up with average client trades per day of 445,000 in its activity report for May 2016. The reported figure declined 5% from the prior month while increasing 4% from the prior-year period.
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