The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,833 shares of the financial services provider’s stock after selling 4,843 shares during the period. Charles Schwab makes up 4.4% of Heron Bay Capital Management’s holdings, making the stock its 4th largest position. Heron Bay Capital Management’s holdings in Charles Schwab were worth $20,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank acquired a new position in shares of Charles Schwab during the second quarter valued at about $26,000. Fortitude Family Office LLC raised 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 worth $29,000 after buying an additional 192 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab during the second quarter worth $27,000. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab during the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $29,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Charles Schwab stock opened at $65.39 on Friday. The stock has a market capitalization of $116.29 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97. The company’s fifty day moving average price is $64.28 and its 200 day moving average price is $69.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCHW. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. UBS Group dropped 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. Barclays cut their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Bank of America decreased their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company began coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.75.

Insiders Place Their Bets

In related news, 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 transaction of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,457,104 in the last 90 days. 6.60% of the stock is owned by insiders.

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.