Pacer Advisors Inc. Purchases 4,696 Shares of The Charles Schwab Co. (NYSE:SCHW)

Pacer Advisors Inc. grew its position in The Charles Schwab Co. (NYSE:SCHW) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 106,653 shares of the financial services provider’s stock after acquiring an additional 4,696 shares during the quarter. Pacer Advisors Inc.’s holdings in Charles Schwab were worth $7,859,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Morningstar Investment Services LLC raised its position in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. M&G Plc purchased a new position in shares of Charles Schwab in the 1st quarter valued at approximately $11,452,000. Daiwa Securities Group Inc. raised its position in shares of Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital raised its position in shares of Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Charles Schwab by 217.8% in the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after purchasing an additional 133,186 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on SCHW shares. Jefferies Financial Group increased their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, Morgan Stanley reduced their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.75.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of 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. Insiders have sold a total of 99,636 shares of company stock worth $6,457,104 in the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.7 %

Shares of SCHW opened at $64.95 on Tuesday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. 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 firm’s fifty day moving average is $64.08 and its two-hundred day moving average is $69.93. The stock has a market cap of $115.43 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.19 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 the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.