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Charles Schwab (SCHW) January Metrics Record Stable Results
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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.
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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Charles Schwab (SCHW) January Metrics Record Stable Results
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.
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