Dark Forest Capital Management LP Invests $303,000 in The Charles Schwab Co. (NYSE:SCHW)

Dark Forest Capital Management LP bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, Holdings Channel.com reports. The firm bought 4,113 shares of the financial services provider’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gryphon Financial Partners LLC purchased a new position in shares of Charles Schwab in the fourth quarter worth $466,000. TFO Wealth Partners LLC grew its position in shares of Charles Schwab by 15,596.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,924 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 3,899 shares in the last quarter. Evoke Wealth LLC increased its holdings in shares of Charles Schwab by 5.8% in the fourth quarter. Evoke Wealth LLC now owns 5,759 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 314 shares during the last quarter. Partners Capital Investment Group LLP purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $233,000. Finally, Alberta Investment Management Corp boosted its stake in Charles Schwab by 60.0% during the fourth quarter. Alberta Investment Management Corp now owns 54,225 shares of the financial services provider’s stock valued at $3,731,000 after buying an additional 20,325 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SCHW. JPMorgan Chase & Co. decreased their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. 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. Citigroup reduced their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Finally, JMP Securities reduced their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.31.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the 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 directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 in the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Up 0.9 %

Shares of SCHW opened at $64.42 on Monday. The firm has a fifty day moving average price of $64.10 and a 200-day moving average price of $69.86. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

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 analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. Equities research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 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.