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LPL Financial (LPLA) Reports Improved Results for November
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LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for Nov 2016. The company recorded total brokerage and advisory assets of $501.3 billion at the end of the month, up 1.3% from the previous month. Of these, brokerage assets were $294.0 billion, while advisory assets were $207.3 billion, as of Nov 30, 2016.
Moreover, LPL Financial reported $30.2 billion of total client cash sweep balances for Nov 2016, up 2.4% from Oct 2016. Of the total cash balance, $21.9 billion was insured cash, $4.3 billion was deposit cash, while the remaining $4.0 billion was money market cash balance.
With the gradual stabilization of global equity markets, trading activities are anticipated to improve. Also, LPL Financial has been extending its offerings to all affiliated advisors, which is expected to help the company gain greater market share. However, weak top-line growth remains a major near-term concern.
Investors’ optimism has been reflected in the share price movement. Shares of LPL Financial gained around 44.7% over the last six months as compared with the 50.2% growth for the Zacks categorized Investment Bank.
Performance of Other Investment Brokers
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Nov 2016. According to its monthly market activity, the company’s DARTs were 208,420, up 24% from the prior month and 40% year over year.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for Nov 2016. The segment deals with the clearance and settling of trades, for both individual and institutional clients globally. Total client DARTs were 728,000, up 14% from Nov 2015 and 21% from Oct 2016. Moreover, total customer accounts were 380,100, up 15% year over year and 1% from the prior month.
TD Ameritrade Holding Corp. (AMTD - Free Report) came up with average client trades per day of 540,000 in its activity report for Nov 2016. The reported figure improved 23% from the prior month as well as from the year-ago period.
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LPL Financial (LPLA) Reports Improved Results for November
LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for Nov 2016. The company recorded total brokerage and advisory assets of $501.3 billion at the end of the month, up 1.3% from the previous month. Of these, brokerage assets were $294.0 billion, while advisory assets were $207.3 billion, as of Nov 30, 2016.
Moreover, LPL Financial reported $30.2 billion of total client cash sweep balances for Nov 2016, up 2.4% from Oct 2016. Of the total cash balance, $21.9 billion was insured cash, $4.3 billion was deposit cash, while the remaining $4.0 billion was money market cash balance.
With the gradual stabilization of global equity markets, trading activities are anticipated to improve. Also, LPL Financial has been extending its offerings to all affiliated advisors, which is expected to help the company gain greater market share. However, weak top-line growth remains a major near-term concern.
LPL Financial currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Investors’ optimism has been reflected in the share price movement. Shares of LPL Financial gained around 44.7% over the last six months as compared with the 50.2% growth for the Zacks categorized Investment Bank.
Performance of Other Investment Brokers
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Nov 2016. According to its monthly market activity, the company’s DARTs were 208,420, up 24% from the prior month and 40% year over year.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for Nov 2016. The segment deals with the clearance and settling of trades, for both individual and institutional clients globally. Total client DARTs were 728,000, up 14% from Nov 2015 and 21% from Oct 2016. Moreover, total customer accounts were 380,100, up 15% year over year and 1% from the prior month.
TD Ameritrade Holding Corp. (AMTD - Free Report) came up with average client trades per day of 540,000 in its activity report for Nov 2016. The reported figure improved 23% from the prior month as well as from the year-ago period.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>