Franklin Resources Inc. Buys 1,922,474 Shares of The Charles Schwab Co. (NYSE:SCHW)

Franklin Resources Inc. lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHWFree Report) by 38.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,932,571 shares of the financial services provider’s stock after acquiring an additional 1,922,474 shares during the quarter. Franklin Resources Inc. owned about 0.39% of Charles Schwab worth $363,128,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SCHW. Beacon Capital Management LLC bought a new stake in Charles Schwab during the 1st quarter valued at approximately $25,000. Your Advocates Ltd. LLP bought a new stake in Charles Schwab during the 1st quarter valued at approximately $25,000. Carolina Wealth Advisors LLC boosted its stake in Charles Schwab by 54.8% during the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in Charles Schwab during the 1st quarter valued at approximately $30,000. Finally, Rocky Mountain Advisers LLC boosted its stake in Charles Schwab by 704.2% during the 1st quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $66.60, for a total value of $5,045,616.00. Following the transaction, the chairman now directly owns 59,672,778 shares in the company, valued at approximately $3,974,207,014.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 72,047 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $66.66, for a total value of $4,802,653.02. Following the transaction, the chairman now directly owns 59,748,538 shares in the company, valued at approximately $3,982,837,543.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 75,760 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total value of $5,045,616.00. Following the completion of the transaction, the chairman now owns 59,672,778 shares in the company, valued at $3,974,207,014.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,807 shares of company stock worth $10,325,149. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock traded up $1.35 during midday trading on Monday, reaching $60.50. 9,392,500 shares of the company’s stock traded hands, compared to its average volume of 17,170,830. The company has a 50-day simple moving average of $61.09 and a two-hundred day simple moving average of $58.52. The Charles Schwab Co. has a 1-year low of $45.00 and a 1-year high of $86.63. The company has a market cap of $107.10 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.03 and a beta of 0.92. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.80.

Charles Schwab (NYSE:SCHWGet Free Report) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the firm posted $0.97 EPS. The business’s revenue was down 8.6% on a year-over-year basis. On average, analysts anticipate that The Charles Schwab Co. will post 3.27 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. Charles Schwab’s dividend payout ratio is 29.15%.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. The Goldman Sachs Group upped their price target on Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Morgan Stanley upped their price target on Charles Schwab from $68.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Bank of America upped their price target on Charles Schwab from $46.00 to $53.00 in a report on Thursday, June 15th. Jefferies Financial Group upped their price target on Charles Schwab from $64.00 to $66.00 in a report on Monday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $70.00 to $74.00 in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $72.09.

View Our Latest Research Report on Charles Schwab

Charles Schwab Profile

(Free Report)

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services.

Further Reading

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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