LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for Jul 2016. The company recorded total brokerage and advisory assets of $500.4 billion at the end of July, up 2.5% from the prior month. Of these, brokerage assets stood at $298.4 billion, while advisory assets were $202.0 billion as of Jul 31, 2016.
However, LPL Financial reported $28.9 billion of total client cash sweep balances for Jul 2016, down 1% from Jun 2016. Of the total cash balance, $20.9 billion was insured cash, $4.2 billion was deposit cash while the remaining $3.8 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 carries a Zacks Rank #3 (Hold).
Performance of Other Investment Brokers
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) reported $760.2 billion in total client assets, up 3% from the prior month and 8% year over year. Also, AMTD came up with average client trades per day of 454,000 in its activity report for Jul 2016. The reported figure declined 3% from the prior month, while it was almost in line with the prior-year period.
E*TRADE Financial Corporation reported a fall in its Daily Average Revenue Trades (DARTs) in the monthly market activity report for Jul 2016. DARTs were 147,100, down 1% sequentially and 2% on a year-over-year basis.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 602,000 in Jul 2016, down 8% from Jul 2015 and 6% from Jun 2016. Further, total customer accounts were 360,100, up 15% from the prior-year month and 1% from the preceding month.
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LPL Financial Holdings Inc. (LPLA - Free Report) released its monthly activity report for Jul 2016. The company recorded total brokerage and advisory assets of $500.4 billion at the end of July, up 2.5% from the prior month. Of these, brokerage assets stood at $298.4 billion, while advisory assets were $202.0 billion as of Jul 31, 2016.
However, LPL Financial reported $28.9 billion of total client cash sweep balances for Jul 2016, down 1% from Jun 2016. Of the total cash balance, $20.9 billion was insured cash, $4.2 billion was deposit cash while the remaining $3.8 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 carries a Zacks Rank #3 (Hold).
Performance of Other Investment Brokers
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) reported $760.2 billion in total client assets, up 3% from the prior month and 8% year over year. Also, AMTD came up with average client trades per day of 454,000 in its activity report for Jul 2016. The reported figure declined 3% from the prior month, while it was almost in line with the prior-year period.
E*TRADE Financial Corporation reported a fall in its Daily Average Revenue Trades (DARTs) in the monthly market activity report for Jul 2016. DARTs were 147,100, down 1% sequentially and 2% on a year-over-year basis.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 602,000 in Jul 2016, down 8% from Jul 2015 and 6% from Jun 2016. Further, total customer accounts were 360,100, up 15% from the prior-year month and 1% from the preceding month.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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