Legal & General Group Plc Has $802.19 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Legal & General Group Plc raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,886,058 shares of the financial services provider's stock after acquiring an additional 225,397 shares during the period. Legal & General Group Plc owned approximately 0.61% of Charles Schwab worth $802,193,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider's stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider's stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the period. Fisher Asset Management LLC boosted its stake in Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider's stock valued at $1,281,297,000 after buying an additional 292,155 shares in the last quarter. Putnam Investments LLC raised its position in Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider's stock worth $841,954,000 after acquiring an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider's stock valued at $802,800,000 after acquiring an additional 1,373,223 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the business's stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jonathan S. Beatty sold 780 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares of the company's stock, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,636 shares of company stock worth $6,457,104. Insiders own 6.60% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.58 during trading hours on Friday, hitting $64.42. 6,046,311 shares of the stock were exchanged, compared to its average volume of 7,745,557. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company's 50 day moving average is $64.06 and its 200 day moving average is $69.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the business posted $0.75 earnings per share. The firm's revenue was up .7% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Charles Schwab's dividend payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent research reports. JMP Securities cut 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. TD Cowen reissued a "hold" rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Bank of America decreased 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $73.31.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.