LPL Financial (LPLA) Reports Y/Y Rise in February Metrics

LPL Financial Holdings Inc.’s LPLA total brokerage and advisory assets of $675.6 billion at the end of February 2019 reflect improvement of 2.2% sequentially and 3.8% year over year.

Of the total brokerage and advisory assets, brokerage assets were $369.2 billion while advisory assets totaled $306.4 billion.

Further, total net new assets were an inflow of $0.9 billion in February. This included $0.2 billion of outflows from a large hybrid firm.  Prior to these outflows, total net new assets were an inflow of $1.1 billion.

LPL Financial reported $30.8 billion of total client cash sweep balances, down 4.3% from the prior month but up 3.7% from February 2018. Of the total, $21.8 billion was insured cash and $4.3 billion was deposit cash while the remaining $4.7 billion was money market cash balance.

With the gradual stabilization of equity markets, trading activities are anticipated to improve. However, dismal top-line growth poses a near-term concern.

Shares of LPL Financial have rallied 26.2% over the past 12 months against 16.6% decline of the industry.

LPL Financial currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance of Other Investment Brokers

E*TRADE Financial ETFC reported monthly market activity for February 2019. Daily Average Revenue Trades (DARTs) for the month were 298,395, up 6% from the previous month but down 10% year over year. Derivatives comprised 30% of DARTs in February.

Interactive Brokers Group, Inc. IBKR released its Electronic Brokerage segment’s performance metrics for February. 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 824,000, down 19% from February 2018 and 3% from January 2019.

Charles Schwab SCHW reported monthly activity for February 2019. Total client assets were $3.5 trillion, up 6% from the year-ago month and 2% from the prior month.

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