The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 109.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,473 shares of the financial services provider’s stock after acquiring an additional 40,461 shares during the period. Summit Trail Advisors LLC’s holdings in Charles Schwab were worth $5,709,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Bank of America reduced their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The sale was disclosed in a document filed 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 on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock worth $6,457,104 in the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $65.38 on Friday. The company has a market capitalization of $116.27 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The business has a 50-day moving average of $64.28 and a 200-day moving average of $69.93.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the company earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid 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 1.53%. Charles Schwab’s dividend payout ratio is presently 41.84%.

About Charles Schwab

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.