Creative Planning Grows Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Creative Planning boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.7% in the second quarter, Holdings Channel reports. The fund owned 432,210 shares of the financial services provider’s stock after buying an additional 19,571 shares during the quarter. Creative Planning’s holdings in Charles Schwab were worth $31,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC raised its position 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 in the last quarter. CGC Financial Services LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.9 %

NYSE:SCHW opened at $64.42 on Monday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The stock has a market cap of $114.57 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.21 and a beta of 0.97. The business has a fifty day moving average of $64.10 and a 200-day moving average of $69.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (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 analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities 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. Stockholders 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 annualized dividend and a dividend yield of 1.55%. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’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 transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SCHW shares. The Goldman Sachs Group dropped their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday. 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. TD Cowen reissued a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Wells Fargo & Company started coverage on Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Finally, JMP Securities dropped their price target on 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $73.31.

Charles Schwab Company 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.