Ieq Capital LLC Decreases Position in The Charles Schwab Co. (NYSE:SCHW)

Ieq Capital LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 29.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,726 shares of the financial services provider’s stock after selling 26,640 shares during the quarter. Ieq Capital LLC’s holdings in Charles Schwab were worth $4,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Country Trust Bank acquired a new stake in Charles Schwab in the 2nd quarter valued at about $26,000. Fortitude Family Office LLC raised its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. American Capital Advisory LLC purchased a new position in Charles Schwab in the second quarter worth approximately $27,000. CGC Financial Services LLC acquired a new position in Charles Schwab during the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $65.38 on Friday. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The stock has a market capitalization of $116.27 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.19 and a beta of 0.97. The company has a 50-day simple moving average of $64.28 and a 200-day simple moving average of $69.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report 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 on the stock in a report on Tuesday, July 23rd. UBS Group decreased their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” 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 issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.75.

Insider Buying and Selling at Charles Schwab

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