AXS Investments LLC Raises Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

AXS Investments LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 22.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,589 shares of the financial services provider’s stock after acquiring an additional 4,129 shares during the quarter. AXS Investments LLC’s holdings in Charles Schwab were worth $1,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Key Financial Inc lifted its position in Charles Schwab by 144.3% during the second quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock worth $25,000 after buying an additional 264 shares during the period. AlphaMark Advisors LLC purchased a new position in Charles Schwab during the second quarter worth about $28,000. Global Trust Asset Management LLC lifted its position in Charles Schwab by 633.8% during the second quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock worth $30,000 after buying an additional 450 shares during the period. SJS Investment Consulting Inc. lifted its position in Charles Schwab by 1,236.6% during the second quarter. SJS Investment Consulting Inc. now owns 548 shares of the financial services provider’s stock worth $31,000 after buying an additional 507 shares during the period. Finally, Worth Asset Management LLC purchased a new position in Charles Schwab during the first quarter worth about $32,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,617,652.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Peter J. Morgan III sold 8,000 shares of the business’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 completion of the sale, the general counsel now directly owns 8,014 shares in the company, valued at approximately $477,714.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula A. Sneed sold 6,918 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $49.98, for a total value of $345,761.64. Following the completion of the sale, 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 a total of 21,824 shares of company stock valued at $1,214,937 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 2.0 %

NYSE SCHW traded up $1.11 during mid-day trading on Friday, reaching $56.78. 7,367,936 shares of the company’s stock traded hands, compared to its average volume of 10,750,892. The company has a fifty day simple moving average of $54.02 and a 200-day simple moving average of $56.18. The Charles Schwab Co. has a 1-year low of $45.00 and a 1-year high of $86.63. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.46 and a beta of 0.94. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.87.

Charles Schwab (NYSE:SCHW) last announced its earnings results 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 prior year, the company posted $1.10 EPS. Charles Schwab’s quarterly revenue was down 16.3% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.16 EPS for the current year.

Charles Schwab Announces Dividend

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 9th. Charles Schwab’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on Charles Schwab from $66.00 to $62.00 in a research report on Tuesday, October 10th. Barclays boosted their target price on Charles Schwab from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 17th. Raymond James boosted their target price on Charles Schwab from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $77.00 target price on shares of Charles Schwab in a report on Tuesday, October 17th. Finally, Piper Sandler decreased their target price on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.91.

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.