The Charles Schwab Corporation (SCHW - Free Report) has released the monthly activity report for January 2020, which shows decent results compared with the prior month. Net new assets of $20.9 billion plunged 31% from the previous month. Nonetheless, it improved 38% year over year.
Total client assets came in at $4.1 trillion, in line with the prior month but up 18% from the year-ago month. Client assets receiving ongoing advisory services were $2.11 trillion, in line with the prior month but up 17% year over year.
Schwab’s average interest earning assets were $279.4 billion at the end of January, up 2% from December 2019 and 1% from January 2019. The company opened 167,000 new brokerage accounts in the reported month, up 2% sequentially and 27% year on year.
Schwab’s active brokerage accounts totaled 12.4 million at the end of January, up 1% sequentially and 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from December 2019 and 7% from January 2019. The number of retirement-plan participants was down 1% from the prior-month level but up 3% year on year to 1.7 million.
Shares of the company appreciated 25.3% over the last six months compared with 22.3% growth recorded by the industry.
Currently, Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Investment Brokers
E*TRADE Financial has also reported a rise in Daily Average Revenue Trades (DARTs) for January. According to its monthly-market activity, the company’s DARTs came in at 463,739, jumping 31% from the previous month and 68% year over year. Notably, derivatives comprised 33% of DARTs in January.
Interactive Brokers Group, Inc. (IBKR - Free Report) has released its Electronic Brokerage segment’s performance metrics for January. Total client DARTs were 1,019,000, up 32% from December 2019 and 20% from January 2019. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 329,000. This reflects a rise of 30% sequentially and 3% year over year.
Upcoming Release
LPL Financial Holdings Inc. (LPLA - Free Report) is likely to report monthly metrics information soon.
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The Charles Schwab Corporation (SCHW - Free Report) has released the monthly activity report for January 2020, which shows decent results compared with the prior month. Net new assets of $20.9 billion plunged 31% from the previous month. Nonetheless, it improved 38% year over year.
Total client assets came in at $4.1 trillion, in line with the prior month but up 18% from the year-ago month. Client assets receiving ongoing advisory services were $2.11 trillion, in line with the prior month but up 17% year over year.
Schwab’s average interest earning assets were $279.4 billion at the end of January, up 2% from December 2019 and 1% from January 2019. The company opened 167,000 new brokerage accounts in the reported month, up 2% sequentially and 27% year on year.
Schwab’s active brokerage accounts totaled 12.4 million at the end of January, up 1% sequentially and 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from December 2019 and 7% from January 2019. The number of retirement-plan participants was down 1% from the prior-month level but up 3% year on year to 1.7 million.
Shares of the company appreciated 25.3% over the last six months compared with 22.3% growth recorded by the industry.
Currently, Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Investment Brokers
E*TRADE Financial has also reported a rise in Daily Average Revenue Trades (DARTs) for January. According to its monthly-market activity, the company’s DARTs came in at 463,739, jumping 31% from the previous month and 68% year over year. Notably, derivatives comprised 33% of DARTs in January.
Interactive Brokers Group, Inc. (IBKR - Free Report) has released its Electronic Brokerage segment’s performance metrics for January. Total client DARTs were 1,019,000, up 32% from December 2019 and 20% from January 2019. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 329,000. This reflects a rise of 30% sequentially and 3% year over year.
Upcoming Release
LPL Financial Holdings Inc. (LPLA - Free Report) is likely to report monthly metrics information soon.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
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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