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.
Schwab Declines 3% as July Net New Assets Fall Sequentially
Read MoreHide Full Article
Shares of Charles Schwab (SCHW - Free Report) have declined 3% following the release of its monthly activity report for July 2019. Net new assets of $19.3 billion declined 4% from the prior month. Nonetheless, it grew 18% year over year.
Total client assets came in at $3.7 trillion, up 1% from the prior month and 8% from the year-ago month. Client assets receiving ongoing advisory services were $1.96 trillion, up 1% sequentially and 8% year over year.
Schwab’s average interest earning assets were $264 billion at the end of July, relatively on par with June 2019 level and up 4% from July 2018. The company opened 129,000 new brokerage accounts in the reported month, up 11% sequentially and 9% year over year.
Schwab’s active brokerage accounts totaled 12 million at the end of July, relatively stable sequentially, and up 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from June 2019 and 7% from July 2018. The number of retirement plan participants were in line with the prior-month level and up 6% year over year at 1.7 million.
Shares of Schwab have lost 15.3% over the past three months compared with 9.4% decline for the industry it belongs to.
E*TRADE Financial’s Daily Average Revenue Trades (DARTs) for July were 255,423, up 1% from the previous month and 5% year over year. Derivatives comprised 35% of DARTs in July.
Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for July. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential decrease in DARTs. Total client DARTs were 800,000, down 1% from the prior month.
Upcoming Release
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for July soon.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Schwab Declines 3% as July Net New Assets Fall Sequentially
Shares of Charles Schwab (SCHW - Free Report) have declined 3% following the release of its monthly activity report for July 2019. Net new assets of $19.3 billion declined 4% from the prior month. Nonetheless, it grew 18% year over year.
![](https://staticx-tuner.zacks.com/images/zadmin_tuner_image/schw_20190816.jpg)
Total client assets came in at $3.7 trillion, up 1% from the prior month and 8% from the year-ago month. Client assets receiving ongoing advisory services were $1.96 trillion, up 1% sequentially and 8% year over year.
Schwab’s average interest earning assets were $264 billion at the end of July, relatively on par with June 2019 level and up 4% from July 2018. The company opened 129,000 new brokerage accounts in the reported month, up 11% sequentially and 9% year over year.
Schwab’s active brokerage accounts totaled 12 million at the end of July, relatively stable sequentially, and up 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from June 2019 and 7% from July 2018. The number of retirement plan participants were in line with the prior-month level and up 6% year over year at 1.7 million.
Shares of Schwab have lost 15.3% over the past three months compared with 9.4% decline for the industry it belongs to.
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 Daily Average Revenue Trades (DARTs) for July were 255,423, up 1% from the previous month and 5% year over year. Derivatives comprised 35% of DARTs in July.
Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for July. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential decrease in DARTs. Total client DARTs were 800,000, down 1% from the prior month.
Upcoming Release
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for July soon.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>