Sfmg LLC Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Sfmg LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.7% during the second quarter, HoldingsChannel reports. The firm owned 57,098 shares of the financial services provider’s stock after purchasing an additional 942 shares during the quarter. Sfmg LLC’s holdings in Charles Schwab were worth $4,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SCHW. Gryphon Financial Partners LLC purchased a new stake in Charles Schwab during the fourth quarter worth about $466,000. Parallel Advisors LLC increased its holdings in Charles Schwab by 6.1% during the 4th quarter. Parallel Advisors LLC now owns 51,712 shares of the financial services provider’s stock valued at $3,558,000 after acquiring an additional 2,982 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its holdings in shares of Charles Schwab by 11.9% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 12,986 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 1,380 shares in the last quarter. United Services Automobile Association grew its position in shares of Charles Schwab by 10.4% in the fourth quarter. United Services Automobile Association now owns 44,162 shares of the financial services provider’s stock valued at $3,038,000 after purchasing an additional 4,150 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Charles Schwab by 12.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 11,361 shares of the financial services provider’s stock valued at $782,000 after buying an additional 1,229 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent analyst reports. Barclays reduced their price target 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. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. 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 company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insider Activity

In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Charles Schwab news, 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 transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $64.60 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $114.89 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.22 and a beta of 0.97. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company’s 50-day simple moving average is $64.02 and its 200-day simple moving average is $69.91.

Charles Schwab (NYSE:SCHW) last issued its 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 company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue was up .7% on a year-over-year basis. Equities analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid 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 1.55%. Charles Schwab’s payout ratio is currently 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.