Gradient Investments LLC Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Gradient Investments LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHWGet Rating) by 53.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 482 shares of the financial services provider’s stock after buying an additional 167 shares during the period. Gradient Investments LLC’s holdings in Charles Schwab were worth $30,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Procyon Advisors LLC purchased a new position in shares of Charles Schwab during the first quarter valued at approximately $201,000. CWM LLC boosted its position in Charles Schwab by 51.2% in the first quarter. CWM LLC now owns 26,856 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 9,099 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Charles Schwab by 32.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 227 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Charles Schwab in the first quarter worth $59,000. Finally, Nvwm LLC purchased a new position in Charles Schwab in the first quarter worth $94,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SCHW. Barclays began coverage on Charles Schwab in a research report on Wednesday, August 31st. They issued an “equal weight” rating and a $81.00 price objective on the stock. Redburn Partners began coverage on Charles Schwab in a research report on Thursday, June 23rd. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $90.00 to $95.00 in a research note on Friday, August 19th. Morgan Stanley lowered their target price on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Finally, Jefferies Financial Group boosted their target price on Charles Schwab from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $91.46.

Insider Buying and Selling

In other news, insider Jonathan M. Craig sold 8,032 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $75.00, for a total value of $602,400.00. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $301,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathan M. Craig sold 8,032 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $75.00, for a total value of $602,400.00. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $301,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares of the company’s stock, valued at $4,456,923,223.50. The disclosure for this sale can be found here. Insiders sold a total of 277,632 shares of company stock worth $17,904,256 over the last ninety days. 6.90% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.91 on Thursday. The Charles Schwab Co. has a 52 week low of $59.35 and a 52 week high of $96.24. The business has a 50-day simple moving average of $70.09 and a 200 day simple moving average of $71.45. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. The stock has a market cap of $132.54 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 0.92 and a beta of 1.07.

Charles Schwab (NYSE:SCHWGet Rating) last posted its earnings results on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. On average, research analysts forecast that The Charles Schwab Co. will post 3.91 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.21%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, August 11th. Charles Schwab’s payout ratio is presently 28.95%.

Charles Schwab Profile

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.

Further Reading

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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