Cetera Investment Advisers Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

Cetera Investment Advisers grew its position in The Charles Schwab Co. (NYSE:SCHW) by 28.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,043 shares of the financial services provider’s stock after buying an additional 27,988 shares during the quarter. Cetera Investment Advisers’ holdings in Charles Schwab were worth $7,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Summit X LLC raised its stake in Charles Schwab by 17.4% in the second quarter. Summit X LLC now owns 14,908 shares of the financial services provider’s stock worth $845,000 after buying an additional 2,205 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Charles Schwab by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,901,801 shares of the financial services provider’s stock worth $221,175,000 after acquiring an additional 233,119 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Charles Schwab by 149.4% during the 2nd quarter. Bell Investment Advisors Inc now owns 2,145 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,285 shares during the last quarter. Edgemoor Investment Advisors Inc. bought a new stake in Charles Schwab during the second quarter valued at about $7,941,000. Finally, Vestor Capital LLC grew its stake in Charles Schwab by 360.6% in the second quarter. Vestor Capital LLC now owns 6,435 shares of the financial services provider’s stock valued at $6,147,000 after purchasing an additional 5,038 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was 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 in the company, valued at $477,714.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction dated 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 owns 8,014 shares of the company’s stock, valued at $477,714.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter B. Crawford sold 3,114 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $56.19, for a total transaction of $174,975.66. Following the completion of the sale, the chief financial officer now directly owns 41,611 shares in the company, valued at $2,338,122.09. The disclosure for this sale can be found here. Insiders sold a total of 21,824 shares of company stock valued at $1,214,937 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SCHW. JMP Securities reissued a “market outperform” rating and set a $77.00 price target on shares of Charles Schwab in a research report on Tuesday, October 17th. Barclays increased their target price on shares of Charles Schwab from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 17th. The Goldman Sachs Group upped their price target on Charles Schwab from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Piper Sandler lowered their price objective on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, October 9th. Finally, UBS Group reduced their target price on Charles Schwab from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.91.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $55.67 on Friday. The firm has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $56.15. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $98.63 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94. The Charles Schwab Co. has a 52 week low of $45.00 and a 52 week high of $86.63.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, October 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Charles Schwab had a return on equity of 24.58% and a net margin of 30.14%. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 EPS. On average, equities analysts predict that The Charles Schwab Co. will post 3.16 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.00 annualized dividend and a yield of 1.80%. Charles Schwab’s payout ratio is 33.33%.

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.