Quadrant Capital Group LLC increased its stake in Charles Schwab Co. (NYSE:SCHW) by 25.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,114 shares of the financial services provider’s stock after purchasing an additional 1,821 shares during the quarter. Quadrant Capital Group LLC’s holdings in Charles Schwab were worth $354,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FNY Investment Advisers LLC grew its position in Charles Schwab by 133.3% in the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 400 shares during the period. Quantamental Technologies LLC acquired a new position in Charles Schwab in the first quarter worth $32,000. Berman Capital Advisors LLC boosted its stake in Charles Schwab by 260.7% in the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 756 shares in the last quarter. Spectrum Management Group Inc. boosted its stake in Charles Schwab by 44.5% in the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 330 shares in the last quarter. Finally, First PREMIER Bank acquired a new position in Charles Schwab in the second quarter worth $49,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.
In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $40.20, for a total value of $150,348.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 4,356 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $43.85, for a total value of $191,010.60. Following the completion of the sale, the director now owns 7,592 shares of the company’s stock, valued at $332,909.20. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.
A number of equities analysts have commented on SCHW shares. Compass Point set a $45.00 price objective on Charles Schwab and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. 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 target on the stock in a research note on Monday, July 22nd. ValuEngine lowered Charles Schwab from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Finally, Argus reaffirmed a “buy” rating and set a $52.00 price target (down previously from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Charles Schwab currently has an average rating of “Hold” and an average price target of $47.80.
NYSE:SCHW traded down $1.61 during mid-day trading on Monday, hitting $39.14. The company had a trading volume of 4,325,398 shares, compared to its average volume of 9,855,104. Charles Schwab Co. has a fifty-two week low of $37.83 and a fifty-two week high of $52.70. The company has a fifty day moving average price of $41.29. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $54.40 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.68 and a beta of 1.25.
Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.60% and a net margin of 35.29%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Charles Schwab Co. will post 2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, August 8th. Charles Schwab’s payout ratio is 27.76%.
About Charles Schwab
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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