Acadian Asset Management LLC Purchases 38,260 Shares of The Charles Schwab Co. (NYSE:SCHW)

Acadian Asset Management LLC boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 1,987.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,185 shares of the financial services provider’s stock after purchasing an additional 38,260 shares during the period. Acadian Asset Management LLC’s holdings in Charles Schwab were worth $2,960,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SCHW. Country Trust Bank bought a new position in Charles Schwab in the 2nd quarter worth $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab in the second quarter worth about $27,000. Fortitude Family Office LLC lifted its position in shares of Charles Schwab by 97.5% during 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 in the last quarter. CGC Financial Services LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab in the 2nd quarter worth approximately $29,000. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,533,064 over the last 90 days. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SCHW. UBS Group dropped their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. TD Cowen reiterated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Barclays decreased their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Bank of America cut their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Finally, Morgan Stanley lowered their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.75.

Charles Schwab Stock Up 0.6 %

Shares of NYSE:SCHW opened at $62.12 on Friday. The company has a market cap of $110.48 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $65.33 and a 200 day moving average price of $70.00.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business 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 company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. As a group, equities research analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

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.