We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LPL Financial Stock Falls Despite Improved February Metrics
Read MoreHide Full Article
Despite an improvement in monthly activity for February 2018 from the prior month, shares of LPL Financial Holdings Inc. (LPLA - Free Report) have declined 4.3% following the release. The figures in the reported month include assets from its acquisition of the broker/dealer network of National Planning Holdings, Inc.
Notably, the company projects further total asset transfer from National Planning Holdings to be in the range of $70-$75 billion, driven by more direct business assets joining its platform.
LPL Financial recorded total brokerage and advisory assets of $650.9 billion at the end of the month, up 2.3% from the previous month. Of the total brokerage and advisory assets, brokerage assets were $366.6 billion while advisory assets were $284.3 billion, as of Feb 28, 2018. Excluding National Planning Holdings, total brokerage and advisory assets declined 2.4% from January 2018 to $584.2 billion.
Moreover, LPL Financial reported $29.7 billion of total client cash sweep balances for February, up 3.5% from January 2018. Of the total balance, $22.6 billion was insured cash, $4.1 billion was deposit cash while the remaining $3 billion was money market cash balance. Excluding National Planning Holdings, total client cash sweep balances remained stable at $27.7 billion.
With the gradual stabilization of 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.
Its share price movement reflects investors’ optimism. The LPL Financial stock has rallied 14% over the past six months, outperforming 11.1% growth registered by the industry.
Performance of Other Investment Brokers
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for February 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs came in at 1,020,000, increasing 50% from February 2017 and 13% from January 2018.
E*TRADE Financial reported a rise in DARTs for February 2018. According to its monthly market activity, the company’s DARTs came in at 330,121, up 5% from the prior month and 51% year over year.
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for February 2018 shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, up 15% year over year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
LPL Financial Stock Falls Despite Improved February Metrics
Despite an improvement in monthly activity for February 2018 from the prior month, shares of LPL Financial Holdings Inc. (LPLA - Free Report) have declined 4.3% following the release. The figures in the reported month include assets from its acquisition of the broker/dealer network of National Planning Holdings, Inc.
Notably, the company projects further total asset transfer from National Planning Holdings to be in the range of $70-$75 billion, driven by more direct business assets joining its platform.
LPL Financial recorded total brokerage and advisory assets of $650.9 billion at the end of the month, up 2.3% from the previous month. Of the total brokerage and advisory assets, brokerage assets were $366.6 billion while advisory assets were $284.3 billion, as of Feb 28, 2018. Excluding National Planning Holdings, total brokerage and advisory assets declined 2.4% from January 2018 to $584.2 billion.
Moreover, LPL Financial reported $29.7 billion of total client cash sweep balances for February, up 3.5% from January 2018. Of the total balance, $22.6 billion was insured cash, $4.1 billion was deposit cash while the remaining $3 billion was money market cash balance. Excluding National Planning Holdings, total client cash sweep balances remained stable at $27.7 billion.
With the gradual stabilization of 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 carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its share price movement reflects investors’ optimism. The LPL Financial stock has rallied 14% over the past six months, outperforming 11.1% growth registered by the industry.
Performance of Other Investment Brokers
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for February 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs came in at 1,020,000, increasing 50% from February 2017 and 13% from January 2018.
E*TRADE Financial reported a rise in DARTs for February 2018. According to its monthly market activity, the company’s DARTs came in at 330,121, up 5% from the prior month and 51% year over year.
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for February 2018 shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, up 15% year over year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>