Ameriprise Financial Inc. Buys 836,969 Shares of The Charles Schwab Co. (NYSE:SCHW)

Ameriprise Financial Inc. grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 41.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,855,529 shares of the financial services provider’s stock after buying an additional 836,969 shares during the period. Ameriprise Financial Inc. owned approximately 0.16% of Charles Schwab worth $148,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloverfields Capital Group LP grew its position in Charles Schwab by 11.5% during the 1st quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 5,246 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Charles Schwab by 39.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 25,007 shares of the financial services provider’s stock worth $1,328,000 after purchasing an additional 7,073 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Charles Schwab by 46.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 14,668 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 4,618 shares during the last quarter. Avantax Planning Partners Inc. boosted its holdings in shares of Charles Schwab by 53.7% in the 1st quarter. Avantax Planning Partners Inc. now owns 7,724 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,697 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in shares of Charles Schwab by 5.5% in the 1st quarter. Jacobi Capital Management LLC now owns 4,299 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 223 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the transaction, the general counsel now owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, Director Charles A. Ruffel purchased 833 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $60.55 per share, for a total transaction of $50,438.15. Following the acquisition, the director now directly owns 3,386 shares of the company’s stock, valued at $205,022.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total value of $476,880.00. Following the sale, the general counsel now owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The disclosure for this sale can be found here. Insiders sold 155,807 shares of company stock valued at $10,325,149 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 20th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Sunday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $70.00 to $74.00 in a research report on Wednesday, July 19th. Morgan Stanley upped their price objective on shares of Charles Schwab from $68.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Finally, Argus increased their target price on shares of Charles Schwab from $70.00 to $81.00 in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.09.

Charles Schwab Trading Down 2.6 %

NYSE:SCHW opened at $58.22 on Friday. The company has a market capitalization of $103.06 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $86.63. The stock has a fifty day simple moving average of $61.68 and a 200-day simple moving average of $57.25.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.61 billion. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 EPS. On average, equities research analysts expect that The Charles Schwab Co. will post 3.27 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.15%.

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. The company operates in two segments, Investor Services and Advisor Services.