Ashburton Jersey Ltd Makes New $10.74 Million Investment in The Charles Schwab Co. (NYSE:SCHW)

Ashburton Jersey Ltd acquired a new position in The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 146,234 shares of the financial services provider’s stock, valued at approximately $10,737,000. Charles Schwab comprises about 4.5% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nelson Capital Management LLC raised its stake in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the period. Abbrea Capital LLC raised its stake 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 buying an additional 142 shares during the period. Ironwood Financial llc raised its stake 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 buying an additional 160 shares during the period. Ascent Wealth Partners LLC raised its stake 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 buying an additional 164 shares during the period. Finally, Sutton Place Investors LLC raised its stake in shares of 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 valued at $596,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research reports. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a research note on Monday, July 29th. TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. UBS Group decreased their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays decreased 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $73.31.

Insider Transactions at Charles Schwab

In other news, President Richard A. Wurster acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the acquisition, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $63.32 on Thursday. The firm has a market capitalization of $112.60 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $64.06 and its two-hundred day simple moving average is $69.78. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last announced 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. The business 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio 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.