Mackenzie Financial Corp Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Mackenzie Financial Corp increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 482,349 shares of the financial services provider’s stock after acquiring an additional 15,166 shares during the quarter. Mackenzie Financial Corp’s holdings in Charles Schwab were worth $35,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nelson Capital Management LLC lifted its position in shares of Charles Schwab by 0.4% during 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 purchasing an additional 141 shares in the last quarter. Abbrea Capital LLC boosted its stake in shares of Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares during the last quarter. Ironwood Financial llc boosted its stake in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Charles Schwab by 0.7% during 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 last quarter. Finally, Sutton Place Investors LLC increased its position in shares of Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 167 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

NYSE:SCHW opened at $64.42 on Friday. The firm has a market capitalization of $114.57 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. 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 stock has a fifty day moving average of $64.10 and a 200 day moving average of $69.84. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping 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 company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Charles Schwab’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 fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, 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 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 that occurred on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,457,104 over the last 90 days. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. UBS Group reduced their price objective 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. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Citigroup dropped their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Morgan Stanley dropped their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.31.

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.