The Charles Schwab Co. (NYSE:SCHW) is Soapstone Management L.P.’s 6th Largest Position

Soapstone Management L.P. increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 325,000 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. Charles Schwab makes up about 7.6% of Soapstone Management L.P.’s portfolio, making the stock its 6th biggest holding. Soapstone Management L.P.’s holdings in Charles Schwab were worth $17,024,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Beacon Capital Management LLC purchased a new stake in Charles Schwab in the 1st quarter worth $25,000. Your Advocates Ltd. LLP purchased a new stake in Charles Schwab in the 1st quarter worth $25,000. Carolina Wealth Advisors LLC grew its holdings in shares of Charles Schwab by 54.8% during the first quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Charles Schwab during the first quarter worth $30,000. Finally, Rocky Mountain Advisers LLC grew its holdings in shares of Charles Schwab by 704.2% during the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SCHW. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Wolfe Research lowered their price target on shares of Charles Schwab from $62.00 to $60.00 in a research report on Monday, June 26th. Argus boosted their price target on shares of Charles Schwab from $70.00 to $81.00 in a research report on Wednesday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $70.00 to $74.00 in a research report on Wednesday, July 19th. Finally, Jefferies Financial Group boosted their price target on shares of Charles Schwab from $64.00 to $66.00 in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.09.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 72,047 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $66.66, for a total value of $4,802,653.02. Following the sale, the chairman now owns 59,748,538 shares of the company’s stock, valued at $3,982,837,543.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total transaction of $5,045,616.00. Following the sale, the chairman now owns 59,672,778 shares of the company’s stock, valued at $3,974,207,014.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 72,047 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $66.66, for a total transaction of $4,802,653.02. Following the sale, the chairman now directly owns 59,748,538 shares in the company, valued at approximately $3,982,837,543.08. The disclosure for this sale can be found here. Insiders have sold a total of 155,807 shares of company stock valued at $10,325,149 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 1.6 %

Shares of SCHW traded up $0.98 during mid-day trading on Tuesday, hitting $60.80. 4,109,197 shares of the company’s stock were exchanged, compared to its average volume of 16,820,945. The company has a market cap of $107.63 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.94 and a beta of 0.92. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s 50-day moving average is $61.48 and its 200-day moving average is $57.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.27 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.00 annualized dividend and a yield of 1.64%. Charles Schwab’s dividend payout ratio (DPR) is 29.15%.

Charles Schwab Profile

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.