Financial Partners Group LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 83.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,748 shares of the financial services provider’s stock after purchasing an additional 17,162 shares during the period. Financial Partners Group LLC’s holdings in Charles Schwab were worth $2,140,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Cloverfields Capital Group LP boosted its holdings in Charles Schwab by 11.5% in the 1st quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 5,246 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Charles Schwab by 334.1% during the 2nd quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock valued at $3,133,000 after buying an additional 42,535 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in Charles Schwab by 2.0% in the second quarter. Baker Tilly Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 229 shares during the last quarter. First Horizon Advisors Inc. grew its position in Charles Schwab by 21.4% in the second quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 677 shares during the period. Finally, Bard Financial Services Inc. increased its stake in Charles Schwab by 372.9% during the second quarter. Bard Financial Services Inc. now owns 24,475 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 19,300 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on SCHW shares. JMP Securities reiterated a “market outperform” rating and set a $77.00 price target on shares of Charles Schwab in a report on Tuesday, October 17th. Piper Sandler lowered their target price on shares of Charles Schwab from $86.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, October 9th. Morgan Stanley reduced their price target on shares of Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. StockNews.com initiated coverage on shares of Charles Schwab in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Barclays lifted their target price on shares of Charles Schwab from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.91.
Charles Schwab Stock Up 2.0 %
SCHW traded up $1.11 on Friday, reaching $56.78. The company’s stock had a trading volume of 7,367,936 shares, compared to its average volume of 10,750,892. The company has a market capitalization 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 Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. 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 50 day moving average of $54.02 and a two-hundred day moving average of $56.23.
Charles Schwab (NYSE:SCHW – Get Free Report) last issued its earnings results on Monday, October 16th. The financial services provider reported $0.77 earnings per share (EPS) 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. As a group, analysts forecast that The Charles Schwab Co. will post 3.16 EPS 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. Stockholders of record on Friday, November 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, November 9th. Charles Schwab’s payout ratio is currently 33.33%.
Insider Activity at Charles Schwab
In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total transaction 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 SEC, which is available at this link. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the transaction, the general counsel now directly owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 3,792 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were 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 $2,563,189.75. 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 three months. 6.60% of the stock is currently owned by company insiders.
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.
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