Norinchukin Bank The cut its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,910 shares of the financial services provider’s stock after selling 11,753 shares during the period. Norinchukin Bank The’s holdings in Charles Schwab were worth $3,292,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Clearbridge Investments LLC increased its holdings in shares of Charles Schwab by 24.0% in the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock worth $635,577,000 after purchasing an additional 2,880,846 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Charles Schwab by 132.2% during the second quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock worth $140,265,000 after acquiring an additional 1,987,302 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Charles Schwab during the first quarter worth approximately $77,259,000. Investec Asset Management LTD increased its stake in Charles Schwab by 31.6% during the second quarter. Investec Asset Management LTD now owns 6,885,579 shares of the financial services provider’s stock worth $276,731,000 after acquiring an additional 1,652,518 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in Charles Schwab by 101.9% during the first quarter. WCM Investment Management LLC now owns 3,077,744 shares of the financial services provider’s stock worth $131,604,000 after acquiring an additional 1,553,184 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.
Shares of NYSE:SCHW traded up $0.51 during trading hours on Monday, hitting $38.27. 6,679,339 shares of the company’s stock traded hands, compared to its average volume of 9,792,205. Charles Schwab Co. has a 1 year low of $35.85 and a 1 year high of $52.70. The business has a fifty day moving average price of $39.66 and a 200-day moving average price of $42.74. The firm has a market capitalization of $49.36 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 2.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. Charles Schwab’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, equities analysts predict that Charles Schwab Co. will post 2.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.78%. Charles Schwab’s dividend payout ratio is currently 27.76%.
In other news, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.20, for a total transaction of $150,348.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total value of $191,293.08. Following the transaction, the director now directly owns 7,297 shares in the company, valued at $274,075.32. The disclosure for this sale can be found here. 10.90% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on SCHW shares. Morgan Stanley reduced their price objective on Charles Schwab from $53.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Co raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, July 22nd. Argus reissued a “buy” rating and set a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Deutsche Bank reduced their price objective on Charles Schwab from $37.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, ValuEngine cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.33.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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