Spire Wealth Management lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 9.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,427 shares of the financial services provider’s stock after buying an additional 1,337 shares during the period. Spire Wealth Management’s holdings in Charles Schwab were worth $874,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Key Financial Inc grew its position in Charles Schwab by 144.3% during the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 264 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $28,000. Global Trust Asset Management LLC grew its position in shares of Charles Schwab by 633.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock valued at $30,000 after buying an additional 450 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Charles Schwab by 1,236.6% in the 2nd quarter. SJS Investment Consulting Inc. now owns 548 shares of the financial services provider’s stock valued at $31,000 after buying an additional 507 shares during the last quarter. Finally, Worth Asset Management LLC bought a new stake in shares of Charles Schwab in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 81.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SCHW. Piper Sandler cut their target price on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. The Goldman Sachs Group boosted their price objective on Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Raymond James boosted their price objective on Charles Schwab from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. Finally, Jefferies Financial Group decreased their price objective on Charles Schwab from $66.00 to $62.00 in a report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.91.
Insiders Place Their Bets
In other Charles Schwab news, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $49.98, for a total value of $345,761.64. Following the transaction, the director now directly owns 112,398 shares in the company, valued at approximately $5,617,652.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the transaction, the general counsel now directly owns 8,014 shares in the company, valued at approximately $477,714.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $49.98, for a total value of $345,761.64. Following the completion of the transaction, the director now owns 112,398 shares of the company’s stock, valued at $5,617,652.04. The disclosure for this sale can be found here. Insiders have sold 21,824 shares of company stock worth $1,214,937 in the last ninety days. 6.60% of the stock is currently owned by insiders.
Charles Schwab Stock Performance
Shares of SCHW opened at $55.67 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.66 and a quick ratio of 0.66. The Charles Schwab Co. has a 1 year low of $45.00 and a 1 year high of $86.63. The firm has a market cap of $98.63 billion, a PE ratio of 18.56, a PEG ratio of 2.48 and a beta of 0.94. The stock’s fifty day moving average price is $54.07 and its two-hundred day moving average price is $56.15.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 24.58% and a net margin of 30.14%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.16 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. Charles Schwab’s dividend payout ratio is currently 33.33%.
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.
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