Argent Trust Co lifted its holdings in Charles Schwab Co. (NYSE:SCHW) by 55.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,167 shares of the financial services provider’s stock after purchasing an additional 9,377 shares during the quarter. Argent Trust Co’s holdings in Charles Schwab were worth $1,337,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Acropolis Investment Management LLC bought a new position in Charles Schwab during the second quarter valued at about $115,000. Well Done LLC bought a new position in Charles Schwab during the first quarter valued at about $118,000. Point72 Hong Kong Ltd bought a new position in Charles Schwab during the second quarter valued at about $134,000. Kaizen Advisory LLC boosted its position in shares of Charles Schwab by 157.6% in the 2nd quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 1,823 shares during the period. Finally, Sun Life Financial INC boosted its position in shares of Charles Schwab by 1,041.8% in the 2nd quarter. Sun Life Financial INC now owns 3,254 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 2,969 shares during the period. 80.30% of the stock is owned by institutional investors.
In other news, Director Christopher V. Dodds sold 15,718 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $51.14, for a total transaction of $803,818.52. Following the completion of the sale, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 190,500 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by corporate insiders.
Shares of Charles Schwab stock opened at $50.32 on Tuesday. The stock has a market capitalization of $68.51 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Charles Schwab Co. has a 1 year low of $40.30 and a 1 year high of $60.22.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.46 billion. Charles Schwab had a return on equity of 17.96% and a net margin of 30.83%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. research analysts forecast that Charles Schwab Co. will post 2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were paid a $0.13 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 9th. Charles Schwab’s dividend payout ratio is currently 31.71%.
A number of equities analysts recently weighed in on SCHW shares. Wells Fargo & Co increased their price target on Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, June 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price target on shares of Charles Schwab in a research report on Monday, July 16th. JPMorgan Chase & Co. set a $59.00 price target on Charles Schwab and gave the company a “buy” rating in a research report on Monday, July 16th. Finally, ValuEngine lowered Charles Schwab from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.57.
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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