The Charles Schwab Co. (NYSE:SCHW) Shares Bought by DnB Asset Management AS

DnB Asset Management AS boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,352 shares of the financial services provider’s stock after purchasing an additional 8,837 shares during the period. DnB Asset Management AS’s holdings in Charles Schwab were worth $22,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SCHW. Vontobel Holding Ltd. raised its position in shares of Charles Schwab by 7.5% during the first quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock worth $1,847,000 after purchasing an additional 1,452 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Charles Schwab by 4.3% in the first quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock worth $528,000 after buying an additional 259 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Charles Schwab by 25.4% in the first quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 2,648 shares during the period. Brighton Jones LLC increased its position in shares of Charles Schwab by 7.5% in the first quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 267 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Charles Schwab by 16.6% in the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 176 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Charles R. Schwab sold 75,760 shares of the company’s stock in a transaction dated 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 this link. In related news, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction that occurred 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 transaction, the general counsel now directly owns 8,014 shares of the company’s stock, valued at $477,714.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 75,760 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 59,672,778 shares in the company, valued at $3,974,207,014.80. The disclosure for this sale can be found here. Insiders sold a total of 155,807 shares of company stock valued at $10,325,149 over the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $59.77 on Friday. The firm has a market capitalization of $105.81 billion, a PE ratio of 17.43, a P/E/G ratio of 1.97 and a beta of 0.92. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $86.63. The stock has a 50 day simple moving average of $61.58 and a 200 day simple moving average of $57.52. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.39.

Charles Schwab (NYSE:SCHW) last released its 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. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Sell-side analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company 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. The ex-dividend date was Thursday, August 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. Charles Schwab’s dividend payout ratio is presently 29.15%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SCHW. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $70.00 to $74.00 in a research note on Wednesday, July 19th. Barclays lifted their price target on Charles Schwab from $62.00 to $70.00 in a research report on Wednesday, July 19th. Wolfe Research reduced their target price on shares of Charles Schwab from $62.00 to $60.00 in a research note on Monday, June 26th. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $64.00 to $66.00 in a research note on Monday, July 10th. Finally, Citigroup upped their price target on Charles Schwab from $65.00 to $75.00 in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $72.09.

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.