DoubleLine ETF Adviser LP Trims Position in The Charles Schwab Co. (NYSE:SCHW)

DoubleLine ETF Adviser LP lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 3.6% in the second quarter, HoldingsChannel reports. The firm owned 24,981 shares of the financial services provider’s stock after selling 939 shares during the period. DoubleLine ETF Adviser LP’s holdings in Charles Schwab were worth $1,841,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SCHW. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC lifted its stake in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the second quarter worth $27,000. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, 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. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $64.04 on Thursday. 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 quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $113.89 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.22 and a beta of 0.97. The stock’s 50-day moving average is $64.02 and its two-hundred day moving average is $69.91.

Charles Schwab (NYSE:SCHW) last released 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. The company had revenue of $4.69 billion for 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 firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SCHW. UBS Group lowered their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company initiated coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Finally, Barclays reduced their price objective 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 given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.75.

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.