Sargent Investment Group LLC Purchases New Holdings in The Charles Schwab Co. (NYSE:SCHW)

Sargent Investment Group LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, Holdings Channel reports. The firm acquired 3,530 shares of the financial services provider’s stock, valued at approximately $260,000.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% in the 4th 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 last quarter. Mondrian Investment Partners LTD raised its stake in shares of Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after purchasing an additional 1,480,485 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Charles Schwab during the first quarter worth about $105,563,000. Finally, Wellington Management Group LLP grew its stake in Charles Schwab by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after purchasing an additional 1,373,223 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $63.84 on Wednesday. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The company has a market cap of $113.46 billion, a PE ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The stock has a 50 day simple moving average of $64.93 and a 200-day simple moving average of $70.03. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $64.00 in a report on Monday, July 29th. UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Barclays reduced their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. Finally, Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report 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’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $73.75.

Insiders Place Their Bets

In related news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. In the last three months, insiders have sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is owned by corporate 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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.