Dana Investment Advisors Inc. Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Dana Investment Advisors Inc. cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,547 shares of the financial services provider’s stock after selling 1,276 shares during the period. Dana Investment Advisors Inc.’s holdings in Charles Schwab were worth $1,367,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SCHW. New Wave Wealth Advisors LLC bought a new position in shares of Charles Schwab in the second quarter worth approximately $310,000. New Century Financial Group LLC purchased a new position in Charles Schwab during the 2nd quarter valued at approximately $225,000. Founders Financial Alliance LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $53,000. Advisory Alpha LLC grew its holdings in shares of Charles Schwab by 9.1% in the second quarter. Advisory Alpha LLC now owns 5,588 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 468 shares in the last quarter. Finally, Next Capital Management LLC increased its position in Charles Schwab by 1.7% in the second quarter. Next Capital Management LLC now owns 66,160 shares of the financial services provider’s stock worth $4,875,000 after purchasing an additional 1,112 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research reports. The Goldman Sachs Group lowered 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. lowered their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Barclays reduced 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. Wells Fargo & Company assumed coverage on Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.31.

Charles Schwab Trading Up 0.0 %

Shares of SCHW opened at $63.38 on Friday. The firm has a market capitalization of $112.72 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.32 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. The company has a 50-day moving average of $64.01 and a 200 day moving average of $69.73.

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, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. 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 41.84%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were acquired 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 owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the business’s 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 completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,636 shares of company stock worth $6,457,104. Company insiders own 6.60% of the company’s stock.

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.