The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,955,289 shares of the financial services provider’s stock after acquiring an additional 30,897 shares during the period. Thrivent Financial for Lutherans owned approximately 0.11% of Charles Schwab worth $144,085,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Country Trust Bank acquired a new position in shares of Charles Schwab during the second quarter worth about $26,000. Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. American Capital Advisory LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $27,000. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab during the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab during the second quarter worth $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.0 %

SCHW stock opened at $65.38 on Friday. The firm’s 50-day moving average is $64.28 and its two-hundred day moving average is $69.93. The company has a market capitalization of $116.27 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. TD Cowen restated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. JMP Securities dropped their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays dropped their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.75.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction that occurred on 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 approximately $1,355,175. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock valued at $6,457,104 over the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.