SOL Capital Management CO lifted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 36,226 shares of the financial services provider’s stock after buying an additional 350 shares during the quarter. SOL Capital Management CO’s holdings in Charles Schwab were worth $1,456,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in SCHW. Quantamental Technologies LLC acquired a new position in Charles Schwab during the first quarter worth $32,000. Berman Capital Advisors LLC raised its holdings in Charles Schwab by 260.7% during the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after buying an additional 756 shares during the last quarter. Spectrum Management Group Inc. raised its holdings in Charles Schwab by 44.5% during the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $46,000 after buying an additional 330 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in Charles Schwab during the fourth quarter worth $49,000. Finally, First PREMIER Bank acquired a new position in Charles Schwab during the second quarter worth $49,000. Institutional investors own 78.78% of the company’s stock.
Several research analysts have weighed in on the stock. Deutsche Bank restated a “buy” rating and set a GBX 4,000 ($52.27) price objective on shares of in a report on Tuesday, June 18th. Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $35.50 in a report on Friday, July 12th. Argus lowered their price objective on shares of Domino’s Pizza from $310.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Citigroup downgraded shares of Apergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $34.00 in a report on Tuesday, July 9th. Finally, Morgan Stanley upped their price objective on shares of Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $47.80.
SCHW traded down $0.03 during trading on Friday, hitting $44.04. 340,296 shares of the company traded hands, compared to its average volume of 9,429,253. The firm has a market capitalization of $59.11 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 4.72 and a beta of 1.23. The firm’s fifty day moving average price is $41.28. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab Co. has a one year low of $37.83 and a one year high of $53.24.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.60%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, research analysts anticipate that Charles Schwab Co. will post 2.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.54%. Charles Schwab’s payout ratio is currently 27.76%.
In related news, Chairman Charles R. Schwab sold 56,280 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $46.27, for a total transaction of $2,604,075.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $40.20, for a total transaction of $150,348.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,376 shares of company stock valued at $14,437,934. 10.90% of the stock is owned by company insiders.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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