Red Spruce Capital LLC Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Red Spruce Capital LLC boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,693 shares of the financial services provider’s stock after purchasing an additional 8,635 shares during the period. Charles Schwab makes up 1.3% of Red Spruce Capital LLC’s holdings, making the stock its 25th biggest holding. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $2,363,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Beacon Capital Management LLC purchased a new stake in Charles Schwab in the first quarter valued at approximately $25,000. Your Advocates Ltd. LLP purchased a new stake in Charles Schwab in the first quarter valued at approximately $25,000. Carolina Wealth Advisors LLC raised its position in Charles Schwab by 54.8% in the first 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 purchased a new stake in Charles Schwab in the first quarter valued at approximately $30,000. Finally, Rocky Mountain Advisers LLC raised its position in Charles Schwab by 704.2% in the first 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. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock traded up $1.06 during midday trading on Thursday, hitting $59.79. 1,984,338 shares of the company’s stock were exchanged, compared to its average volume of 16,747,229. The Charles Schwab Co. has a 12-month low of $45.00 and a 12-month 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 has a market cap of $105.84 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The firm’s 50 day simple moving average is $61.54 and its 200 day simple moving average is $57.51.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Charles Schwab’s payout ratio is 29.15%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the transaction, the general counsel now directly owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 72,047 shares of Charles Schwab 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 completion of 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 document filed with the SEC, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the sale, the general counsel now directly owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,807 shares of company stock worth $10,325,149. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Jefferies Financial Group raised their price objective on shares of Charles Schwab from $64.00 to $66.00 in a research note on Monday, July 10th. UBS Group increased their price target on Charles Schwab from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 24th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Saturday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $70.00 to $74.00 in a research note on Wednesday, July 19th. Finally, Wolfe Research decreased their price target on shares of Charles Schwab from $62.00 to $60.00 in a research note on Monday, June 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.09.

Charles Schwab Company 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.