Lake Street Advisors Group LLC Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Lake Street Advisors Group LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 49.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,816 shares of the financial services provider’s stock after buying an additional 5,533 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Charles Schwab were worth $953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Key Financial Inc raised its holdings in shares of Charles Schwab by 144.3% in 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 last quarter. AlphaMark Advisors LLC purchased a new position in Charles Schwab in the 2nd quarter worth $28,000. Global Trust Asset Management LLC lifted its position in Charles Schwab by 633.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 450 shares during the period. SJS Investment Consulting Inc. grew its stake in Charles Schwab by 1,236.6% during the 2nd quarter. SJS Investment Consulting Inc. now owns 548 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 507 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new position in shares of Charles Schwab in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW traded up $1.11 during trading hours on Friday, hitting $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 market capitalization of $100.60 billion, a PE ratio of 18.93, a PEG ratio of 2.46 and a beta of 0.94. 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 52-week low of $45.00 and a 52-week high of $86.63. The firm’s 50-day moving average is $54.02 and its 200-day moving average is $56.18.

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

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, November 9th. Charles Schwab’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling

In related news, CFO Peter B. Crawford sold 3,792 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $57.31, for a total transaction of $217,319.52. Following the completion of the sale, the chief financial officer now directly owns 44,725 shares of the company’s stock, valued at approximately $2,563,189.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Peter B. Crawford sold 3,114 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $56.19, for a total value of $174,975.66. Following the sale, the chief financial officer now owns 41,611 shares in the company, valued at approximately $2,338,122.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter B. Crawford sold 3,792 shares of Charles Schwab stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $57.31, for a total value of $217,319.52. Following the completion of the transaction, the chief financial officer now directly owns 44,725 shares of the company’s stock, valued at $2,563,189.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,824 shares of company stock worth $1,214,937. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research reports. 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charles Schwab from $70.00 to $69.00 in a report on Wednesday, October 11th. Raymond James raised their target price on shares of Charles Schwab from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. StockNews.com initiated coverage on shares of Charles Schwab in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $77.00 price objective on shares of Charles Schwab in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.91.

About Charles Schwab

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.