Legal & General Group Plc Grows Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Legal & General Group Plc boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,886,058 shares of the financial services provider’s stock after buying an additional 225,397 shares during the quarter. Legal & General Group Plc owned approximately 0.61% of Charles Schwab worth $802,193,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on 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 owns 567,057 shares in the company, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,636 shares of company stock worth $6,457,104. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SCHW shares. TD Cowen restated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. JMP Securities lowered their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. 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. Finally, Bank of America dropped their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.50.

Charles Schwab Trading Down 0.4 %

Shares of SCHW stock opened at $63.81 on Friday. The business’s fifty day moving average price is $64.06 and its 200 day moving average price is $69.83. The firm has a market capitalization of $113.41 billion, a PE ratio of 26.70, a P/E/G ratio of 1.22 and a beta of 0.97. 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 Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders 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 yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

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.