Shares of Charles Schwab (SCHW - Free Report) have declined 3.2% following the release of its monthly activity report for May 2019. Total client assets came in at $3.5 trillion, down 4% from the prior month but up 5% from the year-ago month.
Client assets receiving ongoing advisory services were $1.85 trillion, down 3% sequentially but up 5% year over year. Schwab’s average interest earning assets were $263.7 billion at the end of May, declining 2% from April 2019 but improving 9% from May 2018 level.
New brokerage accounts opened by the company in May 2019 were down 16% sequentially but up 1% year over year.
Schwab’s active brokerage accounts totaled 11.9 million at the end of May, relatively stable sequentially, and up 7% from the year-ago month. Further, client’s banking accounts were 1.3 million, rising 1% from April 2019 and 7% from May 2018. The number of retirement plan participants rose 1% from the prior month and 6% year over year to 1.7 million.
Shares of Schwab have rallied 1.4% over the past six months, underperforming 4.7% rise 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’s (ETFC - Free Report) Daily Average Revenue Trades (DARTs) for May 2019 were 279,058, up 2% from the previous month and 14% year over year. Derivatives comprised 33% of DARTs in May.
Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for May. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year and sequential decrease in DARTs. Total client DARTs were 894,000, up 15% from April 2019 as well as from May 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for May soon.
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