Parkside Investments LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 22,413 shares of the financial services provider’s stock, valued at approximately $1,100,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC purchased a new position in shares of Charles Schwab in the 1st quarter valued at $25,000. Your Advocates Ltd. LLP purchased a new position in shares of Charles Schwab during the first quarter worth about $25,000. Carolina Wealth Advisors LLC increased its position 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 purchasing an additional 200 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Charles Schwab in the 1st quarter valued at about $30,000. Finally, Rocky Mountain Advisers LLC boosted its position in shares of Charles Schwab by 704.2% in 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 and hedge funds own 81.61% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $70.00 to $74.00 in a research note on Wednesday, July 19th. Citigroup increased their price objective on Charles Schwab from $65.00 to $75.00 in a research report on Wednesday, July 19th. Jefferies Financial Group boosted their target price on Charles Schwab from $64.00 to $66.00 in a report on Monday, July 10th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a report on Saturday, September 9th. Finally, Barclays boosted their price objective on shares of Charles Schwab from $62.00 to $70.00 in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $72.09.
Charles Schwab Trading Down 4.0 %
NYSE:SCHW traded down $2.40 on Friday, reaching $57.36. The stock had a trading volume of 7,918,813 shares, compared to its average volume of 16,730,332. The Charles Schwab Co. has a 12-month low of $45.00 and a 12-month high of $86.63. The company has a market cap of $101.54 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.97 and a beta of 0.92. The firm’s fifty day moving average is $61.58 and its two-hundred day moving average is $57.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.39.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. Charles Schwab’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. Equities analysts expect that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s dividend payout ratio is currently 29.15%.
Insider Transactions at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of Charles Schwab 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 transaction, the chairman now owns 59,672,778 shares in the company, valued at approximately $3,974,207,014.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Charles Schwab news, Director Charles A. Ruffel purchased 833 shares of Charles Schwab stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $60.55 per share, with a total value of $50,438.15. Following the completion of the transaction, the director now directly owns 3,386 shares in the company, valued at approximately $205,022.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $5,045,616.00. Following the completion of the sale, the chairman now directly owns 59,672,778 shares of the company’s stock, valued at approximately $3,974,207,014.80. The disclosure for this sale can be found here. Insiders have sold a total of 155,807 shares of company stock worth $10,325,149 in the last three months. Company insiders own 6.60% of the company’s stock.
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.
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