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Schwab's (SCHW) August Metrics Rise on Higher Client Assets
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Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
Further, client assets receiving ongoing advisory services were $1.847.3 trillion, up 17% year over year and 2% sequentially. Also, Schwab’s average interest earning assets came in at $259.1 billion at the end of August, improving 21% from the prior-year period.
Notably, the company opened 132,000 new brokerage accounts this August, up7% year over year and 12% from last month. Net new assets, through existing and new clients, totaled $20.8 billion, jumping16% from August 2017 and 28% from July 2018.
Schwab’s active brokerage accounts totaled 11.3 million at the end of the month, up 7% from the August 2017 level and 1% from July 2018. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally and 1% sequentially. Additionally, the number of retirement plan participants rose 5% year over year and 1% from the prior month to 1.6 million.
Driven by steady improvement in client assets and other metrics, the stock has rallied 22.6% in the past year, significantly outperforming 9.2% growth of the industry.
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) in August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% from the prior month. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for August in a few days.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025.
Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
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Schwab's (SCHW) August Metrics Rise on Higher Client Assets
Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
Further, client assets receiving ongoing advisory services were $1.847.3 trillion, up 17% year over year and 2% sequentially. Also, Schwab’s average interest earning assets came in at $259.1 billion at the end of August, improving 21% from the prior-year period.
Notably, the company opened 132,000 new brokerage accounts this August, up7% year over year and 12% from last month. Net new assets, through existing and new clients, totaled $20.8 billion, jumping16% from August 2017 and 28% from July 2018.
Schwab’s active brokerage accounts totaled 11.3 million at the end of the month, up 7% from the August 2017 level and 1% from July 2018. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally and 1% sequentially. Additionally, the number of retirement plan participants rose 5% year over year and 1% from the prior month to 1.6 million.
Driven by steady improvement in client assets and other metrics, the stock has rallied 22.6% in the past year, significantly outperforming 9.2% growth of the industry.
Schwab currently 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 reported a rise in Daily Average Revenue Trades (DARTs) in August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% from the prior month. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for August in a few days.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025.
Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>