Versor Investments LP Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Versor Investments LP bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,945 shares of the financial services provider’s stock, valued at approximately $512,000.

Other large investors have also bought and sold shares of the company. Morningstar Investment Services LLC boosted its holdings in shares of Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after acquiring an additional 2,322,156 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Charles Schwab by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after acquiring an additional 857,734 shares during the period. M&G Plc bought a new position in shares of Charles Schwab in the first quarter worth $11,452,000. Franklin Resources Inc. boosted its holdings in shares of Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after acquiring an additional 1,558,975 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.4 %

SCHW stock opened at $63.90 on Thursday. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The business’s 50 day moving average price is $66.86 and its two-hundred day moving average price is $70.11. 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 company has a market capitalization of $113.64 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on SCHW. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JMP Securities dropped their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $74.00.

Insider Activity at Charles Schwab

In other Charles Schwab news, President Richard A. Wurster acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $9,124,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard A. Wurster acquired 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, 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 have sold 107,800 shares of company stock valued at $7,145,364. 6.60% of the stock is owned by corporate insiders.

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.