DRW Securities LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,817 shares of the financial services provider's stock after acquiring an additional 12,658 shares during the quarter. DRW Securities LLC's holdings in Charles Schwab were worth $6,062,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Morningstar Investment Services LLC raised its position in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider's stock worth $326,284,000 after purchasing an additional 2,322,156 shares during the period. M&G Plc acquired a new stake in Charles Schwab during the 1st quarter worth approximately $11,452,000. Daiwa Securities Group Inc. lifted its stake in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider's stock valued at $13,788,000 after buying an additional 17,925 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider's stock valued at $949,000 after buying an additional 1,430 shares during the period. Finally, Bridgewater Associates LP increased its position in shares of Charles Schwab by 217.8% during the fourth quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider's stock worth $13,371,000 after acquiring an additional 133,186 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Wall Street Analysts Forecast Growth
SCHW has been the subject of a number of research analyst reports. JMP Securities reduced their target price on shares of Charles Schwab from $85.00 to $82.00 and set a "market outperform" rating for the company in a research note on Tuesday, July 23rd. Bank of America reduced their price target on Charles Schwab from $72.00 to $66.00 and set an "underperform" rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company began coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Finally, Barclays cut their price target on shares of Charles Schwab from $77.00 to $68.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Charles Schwab has a consensus rating of "Hold" and an average target price of $73.75.
Check Out Our Latest Stock Analysis on Charles Schwab
Charles Schwab Price Performance
SCHW stock traded up $0.63 during mid-day trading on Friday, hitting $65.39. The stock had a trading volume of 12,332,380 shares, compared to its average volume of 8,109,705. The firm has a fifty day simple moving average of $64.28 and a 200 day simple moving average of $69.96. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $116.22 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. As a group, research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.
Charles Schwab Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab's dividend payout ratio is currently 41.84%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the firm's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company's stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares of the company's stock, valued at $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the firm's stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares of the company's stock, valued at $1,355,175. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is currently owned by company insiders.
Charles Schwab Company Profile
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Free Report)
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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.
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