Neuberger Berman Group LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 5.5% during the second quarter, HoldingsChannel.com reports. The firm owned 1,450,643 shares of the financial services provider’s stock after selling 85,073 shares during the period. Neuberger Berman Group LLC’s holdings in The Charles Schwab were worth $105,176,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of SCHW. First Trust Advisors LP acquired a new stake in shares of The Charles Schwab in the 1st quarter valued at about $1,805,000. Ironwood Wealth Management LLC. acquired a new stake in shares of The Charles Schwab in the 1st quarter valued at about $594,000. E Fund Management Co. Ltd. acquired a new stake in shares of The Charles Schwab in the 1st quarter valued at about $171,000. Advisors Capital Management LLC raised its stake in shares of The Charles Schwab by 31.5% in the 1st quarter. Advisors Capital Management LLC now owns 5,139 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of The Charles Schwab by 49.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 38,614 shares of the financial services provider’s stock valued at $2,517,000 after purchasing an additional 12,690 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.
Several research firms recently weighed in on SCHW. Zacks Investment Research upgraded shares of The Charles Schwab from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, September 29th. Atlantic Securities began coverage on shares of The Charles Schwab in a research note on Tuesday, October 5th. They set an “overweight” rating and a $95.00 price objective on the stock. Citigroup dropped their price objective on shares of The Charles Schwab from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 19th. Morgan Stanley increased their price objective on shares of The Charles Schwab from $86.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, October 8th. Finally, The Goldman Sachs Group lowered shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $82.94.
Shares of NYSE:SCHW opened at $76.27 on Thursday. The firm’s 50 day moving average is $73.30 and its two-hundred day moving average is $71.26. The Charles Schwab Co. has a 52 week low of $37.01 and a 52 week high of $78.94. The firm has a market capitalization of $137.82 billion, a P/E ratio of 32.18 and a beta of 1.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.39.
The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.46 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The company’s revenue was up 84.8% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. Analysts predict that The Charles Schwab Co. will post 3.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio (DPR) is presently 29.39%.
The Charles Schwab Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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