Private Advisor Group LLC Purchases 20,865 Shares of The Charles Schwab Co. (NYSE:SCHW)

Private Advisor Group LLC increased its position in The Charles Schwab Co. (NYSE:SCHW) by 27.8% during the second quarter, Holdings Channel.com reports. The firm owned 95,836 shares of the financial services provider’s stock after buying an additional 20,865 shares during the quarter. Private Advisor Group LLC’s holdings in Charles Schwab were worth $5,566,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quilter Plc bought a new position in shares of Charles Schwab in the 2nd quarter worth $424,700,000. Key Financial Inc lifted its holdings in shares of Charles Schwab by 144.3% in the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 264 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Charles Schwab in the 2nd quarter worth $28,000. Worth Asset Management LLC bought a new position in shares of Charles Schwab in the 1st quarter worth $32,000. Finally, Global Trust Asset Management LLC lifted its holdings 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 worth $30,000 after purchasing an additional 450 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 2.0 %

Shares of SCHW opened at $56.78 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $100.60 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The business has a 50-day moving average of $54.02 and a 200 day moving average of $56.23.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given 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 1.76%. Charles Schwab’s payout ratio is 33.33%.

Insider Buying and Selling

In related news, CFO Peter B. Crawford sold 3,114 shares of the business’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab 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 owns 8,014 shares in the company, valued at $477,714.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $174,975.66. Following the completion of the sale, the chief financial officer now owns 41,611 shares of the company’s stock, valued at approximately $2,338,122.09. The disclosure for this sale can be found here. Insiders sold 21,824 shares of company stock worth $1,214,937 in the last quarter. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. UBS Group dropped their price objective on Charles Schwab from $80.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, October 16th. JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Barclays raised their price objective on Charles Schwab from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $70.00 to $69.00 in a research note on Wednesday, October 11th. Finally, Piper Sandler lowered their target price on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.