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LPL Financial (LPLA) Records Improved Results in May 2017
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LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for May 2017. The company recorded total brokerage and advisory assets of $540 billion at the end of the month, up 0.9% from the previous month. Of these, brokerage assets were $306.0 billion; while advisory assets were $233.5 billion, as of May 31, 2017.
Moreover, LPL Financial reported $28.3 billion of total client cash sweep balances for May 2017, down 2.4% from Apr 2017. Of the total cash balance, $20.9 billion was insured cash, $3.8 billion was deposit cash; while the remaining $3.6 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, dismal 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 16.1% over the last six months as compared with the 1.7% decline registered by the Zacks categorized Investment Bank industry.
Performance of Other Investment Brokers
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for May 2017. Total client DARTs were 675,000, up 5% from May 2016. Similarly, DARTs were up 5% from the prior month. Also, total customer accounts ascended 19% year over year and 2% from the prior month to 418,000.
E*TRADE Financial Corporation recorded an increase in its DARTs for May 2017. The company’s DARTs came in at 211,516, jumping 8% from the prior month, and 42% year over year. Notably, derivatives comprised 32% of DARTs during the month.
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for May 2017 shows an improvement over the year-ago period. Total client assets were $3 trillion at the end of the month, reflecting an increase of 15%.
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LPL Financial (LPLA) Records Improved Results in May 2017
LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for May 2017. The company recorded total brokerage and advisory assets of $540 billion at the end of the month, up 0.9% from the previous month. Of these, brokerage assets were $306.0 billion; while advisory assets were $233.5 billion, as of May 31, 2017.
Moreover, LPL Financial reported $28.3 billion of total client cash sweep balances for May 2017, down 2.4% from Apr 2017. Of the total cash balance, $20.9 billion was insured cash, $3.8 billion was deposit cash; while the remaining $3.6 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, dismal top-line growth remains a major near-term concern.
LPL Financial currently carries a Zacks Rank #3 (Hold). 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 16.1% over the last six months as compared with the 1.7% decline registered by the Zacks categorized Investment Bank industry.
Performance of Other Investment Brokers
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for May 2017. Total client DARTs were 675,000, up 5% from May 2016. Similarly, DARTs were up 5% from the prior month. Also, total customer accounts ascended 19% year over year and 2% from the prior month to 418,000.
E*TRADE Financial Corporation recorded an increase in its DARTs for May 2017. The company’s DARTs came in at 211,516, jumping 8% from the prior month, and 42% year over year. Notably, derivatives comprised 32% of DARTs during the month.
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for May 2017 shows an improvement over the year-ago period. Total client assets were $3 trillion at the end of the month, reflecting an increase of 15%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>