We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LPL Financial Reports Improvement in Activity for August
Read MoreHide Full Article
LPL Financial Holdings Inc. (LPLA - Free Report) recorded total brokerage and advisory assets of $551.4 billion in August 2017, up 0.3% from the previous month. Of these, brokerage assets were $306.1 billion while advisory assets were $245.3 billion.
Further, LPL Financial’s total net new assets increased 22.2% from the prior month to $1.1 billion in August.
The company reported $28.3 billion of total client cash sweep balances for August, up 3.7% from July. Of the total cash balance, $22 billion was insured cash, $4 billion was deposit cash and the remaining $2.3 billion was money market balance.
As the global equity markets have been stabilizing gradually, trading activities are likely to improve. Also, LPL Financial has been extending its offerings to all affiliated advisors, which is expected to help the company gain greater market share.
LPL Financial’s price performance also seems encouraging. Shares of the company have rallied 38.7% so far this year, outperforming the 1.5% gain for the industry it belongs to. Given the strong fundamentals, we expect this upbeat price performance to continue in the near term as well.
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for August 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 206,572, up a staggering 44% year over year. Notably, derivatives comprised 31% of DARTs for August.
TD Ameritrade Holding Corporation (AMTD) reported average client trades per day of 504,000 in its activity report for August 2017. Though the reported figure is down 2% from the prior-month tally, it increased 19% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for August 2017. Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
LPL Financial Reports Improvement in Activity for August
LPL Financial Holdings Inc. (LPLA - Free Report) recorded total brokerage and advisory assets of $551.4 billion in August 2017, up 0.3% from the previous month. Of these, brokerage assets were $306.1 billion while advisory assets were $245.3 billion.
![](https://staticx-tuner.zacks.com/images/zadmin_tuner_image/lpla_20170921.jpg)
Further, LPL Financial’s total net new assets increased 22.2% from the prior month to $1.1 billion in August.
The company reported $28.3 billion of total client cash sweep balances for August, up 3.7% from July. Of the total cash balance, $22 billion was insured cash, $4 billion was deposit cash and the remaining $2.3 billion was money market balance.
As the global equity markets have been stabilizing gradually, trading activities are likely to improve. Also, LPL Financial has been extending its offerings to all affiliated advisors, which is expected to help the company gain greater market share.
LPL Financial’s price performance also seems encouraging. Shares of the company have rallied 38.7% so far this year, outperforming the 1.5% gain for the industry it belongs to. Given the strong fundamentals, we expect this upbeat price performance to continue in the near term as well.
Nonetheless, the company’s Zacks Consensus Estimate for current-year earnings has remained stable over the last 30 days. As a result, LPL Financial currently has 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 Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for August 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 206,572, up a staggering 44% year over year. Notably, derivatives comprised 31% of DARTs for August.
TD Ameritrade Holding Corporation (AMTD) reported average client trades per day of 504,000 in its activity report for August 2017. Though the reported figure is down 2% from the prior-month tally, it increased 19% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for August 2017. Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>