The Charles Schwab Co. (NYSE:SCHW) Position Boosted by Virtu Financial LLC

Virtu Financial LLC raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 311.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,858 shares of the financial services provider’s stock after acquiring an additional 13,521 shares during the period. Virtu Financial LLC’s holdings in Charles Schwab were worth $1,316,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank bought a new stake in Charles Schwab during the second quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the 2nd quarter worth $27,000. Fortitude Family Office LLC lifted its holdings in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. CGC Financial Services LLC acquired a new position in Charles Schwab during the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

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 stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab 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 completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,355,175. The disclosure for this sale can be found here. Insiders sold a total of 90,636 shares of company stock worth $5,880,654 in the last 90 days. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JMP Securities cut their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Bank of America decreased their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. UBS Group cut their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their price objective on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Stock Down 0.4 %

Shares of Charles Schwab stock opened at $63.56 on Thursday. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The stock has a market capitalization of $112.96 billion, a P/E ratio of 26.59, a PEG ratio of 1.16 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $64.70 and a two-hundred day moving average price of $69.98.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. Equities analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.