The Charles Schwab Co. (NYSE:SCHW) Stake Increased by Quarry LP

Quarry LP raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 204.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,670 shares of the financial services provider’s stock after purchasing an additional 1,122 shares during the period. Quarry LP’s holdings in Charles Schwab were worth $123,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nelson Capital Management LLC lifted its holdings in Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC boosted its position in shares of Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 142 shares during the period. Ironwood Financial llc boosted its position in shares of Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares during the period. Ascent Wealth Partners LLC boosted its position in shares of Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 164 shares during the period. Finally, Sutton Place Investors LLC lifted its position in Charles Schwab by 2.1% in the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 167 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. In the last three months, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $63.91 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 Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The business’s 50 day moving average price is $64.08 and its two-hundred day moving average price is $69.82. The firm has a market cap of $113.66 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its 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 return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. JMP Securities decreased their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. The Goldman Sachs Group reduced their price objective on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. JPMorgan Chase & Co. dropped their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Bank of America dropped their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, 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 report on Wednesday, July 17th. Three 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.31.

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.