Prudential PLC Has $4.25 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Prudential PLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 45.9% in the second quarter, HoldingsChannel.com reports. The fund owned 57,604 shares of the financial services provider’s stock after acquiring an additional 18,112 shares during the quarter. Prudential PLC’s holdings in Charles Schwab were worth $4,245,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Country Trust Bank acquired a new stake in Charles Schwab during the 2nd quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley reduced their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. UBS Group reduced their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Bank of America cut their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, JMP Securities cut their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Price Performance

Charles Schwab stock opened at $63.07 on Wednesday. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company’s 50 day moving average price is $66.01 and its two-hundred day moving average price is $70.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $112.17 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.18 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s 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 analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Charles Schwab 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.