Xponance Inc. Acquires 11,303 Shares of The Charles Schwab Co. (NYSE:SCHW)

Xponance Inc. raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.5% in the second quarter, HoldingsChannel reports. The firm owned 218,151 shares of the financial services provider’s stock after buying an additional 11,303 shares during the quarter. Xponance Inc.’s holdings in Charles Schwab were worth $16,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gryphon Financial Partners LLC bought a new position in shares of Charles Schwab in the 4th quarter worth approximately $466,000. Founders Financial Alliance LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $128,000. Act Two Investors LLC grew its stake in shares of Charles Schwab by 5.7% in the 4th quarter. Act Two Investors LLC now owns 263,586 shares of the financial services provider’s stock worth $18,135,000 after buying an additional 14,106 shares during the last quarter. Cape Investment Advisory Inc. grew its stake in shares of Charles Schwab by 2.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 24,944 shares of the financial services provider’s stock worth $1,716,000 after buying an additional 705 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Charles Schwab by 6.1% in the 4th quarter. Parallel Advisors LLC now owns 51,712 shares of the financial services provider’s stock worth $3,558,000 after buying an additional 2,982 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SCHW shares. UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Morgan Stanley cut their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. cut their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.75.

Charles Schwab Stock Performance

SCHW stock opened at $65.39 on Monday. The company has a market cap of $116.22 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $64.28 and its 200-day moving average price is $69.96.

Charles Schwab (NYSE:SCHW) last announced its 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. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the firm earned $0.75 EPS. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced 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 was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of the firm’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 sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is owned by company insiders.

About Charles Schwab

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.