LPL Financial Reports Improvement In November Activity

By Zacks Investment ResearchStock MarketsDec 19, 2017 09:38PM ET

www.investing.com/analysis/lpl-financial-reports-improvement-in-november-activity-200274708

LPL Financial Reports Improvement In November Activity

By Zacks Investment Research | Dec 19, 2017 09:38PM ET

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LPL Financial Holdings (NASDAQ:LPLA) registered total brokerage and advisory assets of $575 billion in November 2017, reflecting an increase of 1.5% from the previous month. Of these, brokerage assets were $314.3 billion, while advisory assets were $260.7 billion.

Further, LPL Financial’s total net new assets increased to $1.3 billion in November from $0.6 billion in the prior month.

The company reported $27.7 billion of total client cash sweep balances for November, unchanged from October. Of the total cash balance, $21.6 billion was insured cash, $3.9 billion was deposit cash and the remaining $2.2 billion was money market balance.

Given that global equity markets are gradually stabilizing, 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 grab greater market share.

LPL Financial’s price performance seems encouraging. Shares of the company have rallied 58.3% so far this year, outperforming 17.5% growth 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 seven 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 Corp. (NASDAQ:ETFC) reported a rise in Daily Average Revenue Trades (DARTs) for November 2017. According to its monthly market activity, DARTs came in at 248,669, up 15% from the prior month and 19% year over year. Notably, derivatives comprised 31% of DARTs during November.

The Charles Schwab Corporation (NYSE:SCHW) released the monthly activity report for November 2017, which shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, jumping 21% year over year.

Interactive Brokers Group’s (NASDAQ:IBKR) Electronic Brokerage segment reported a year-over-year increase in DARTs for November 2017. The segment deals in clearance and settlement of trades for individual and institutional clients globally.

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E*TRADE Financial Corporation (ETFC): Free Stock Analysis Report

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LPL Financial Holdings Inc. (LPLA): Free Stock Analysis Report

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LPL Financial Reports Improvement In November Activity

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