Integrated Wealth Concepts LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 38.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,194 shares of the financial services provider’s stock after purchasing an additional 1,736 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Charles Schwab were worth $391,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in SCHW. Jones Financial Companies Lllp acquired a new position in shares of Charles Schwab in the second quarter worth $26,000. Princeton Global Asset Management LLC increased its stake in shares of Charles Schwab by 104.5% in the first quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 164 shares during the last quarter. Heritage Financial Services LLC acquired a new position in Charles Schwab during the second quarter worth $28,000. Roble Belko & Company Inc bought a new position in Charles Schwab during the first quarter valued at about $30,000. Finally, Gradient Investments LLC raised its holdings in Charles Schwab by 53.0% during the second quarter. Gradient Investments LLC now owns 482 shares of the financial services provider’s stock valued at $30,000 after buying an additional 167 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 135,000 shares of Charles Schwab stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $79.49, for a total transaction of $10,731,150.00. Following the sale, the chairman now directly owns 69,184,882 shares of the company’s stock, valued at $5,499,506,270.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 135,000 shares of Charles Schwab stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $79.49, for a total transaction of $10,731,150.00. Following the sale, the chairman now directly owns 69,184,882 shares of the company’s stock, valued at $5,499,506,270.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Craig sold 4,019 shares of Charles Schwab stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $79.08, for a total value of $317,822.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 337,193 shares of company stock valued at $26,802,462. 6.90% of the stock is currently owned by corporate insiders.
Charles Schwab Stock Down 0.3 %
Charles Schwab (NYSE:SCHW – Get Rating) last released its earnings results on Monday, October 17th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. Charles Schwab had a return on equity of 18.96% and a net margin of 34.02%. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that The Charles Schwab Co. will post 3.92 earnings per share for the current year.
Charles Schwab Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 9th. Charles Schwab’s payout ratio is 26.75%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Credit Suisse Group lowered Charles Schwab from an “outperform” rating to a “neutral” rating and raised their target price for the company from $80.00 to $84.00 in a report on Tuesday, November 1st. StockNews.com assumed coverage on Charles Schwab in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup initiated coverage on Charles Schwab in a report on Tuesday, October 11th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Erste Group Bank raised Charles Schwab from a “hold” rating to a “buy” rating in a research report on Wednesday, October 5th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.83.
Charles Schwab Company Profile
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.
- Get a free copy of the StockNews.com research report on Charles Schwab (SCHW)
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