AE Wealth Management LLC Buys 4,081 Shares of The Charles Schwab Co. (NYSE:SCHW)

AE Wealth Management LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,686 shares of the financial services provider’s stock after acquiring an additional 4,081 shares during the period. AE Wealth Management LLC’s holdings in Charles Schwab were worth $4,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Country Trust Bank acquired a new position in Charles Schwab in the 2nd quarter valued at $26,000. Fortitude Family Office LLC raised its stake 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 purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC bought a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. CGC Financial Services LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Charles Schwab during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $65.39 on Monday. The company’s 50 day moving average price is $64.28 and its two-hundred day moving average price is $69.96. The firm has a market capitalization of $116.22 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

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

Charles Schwab Dividend Announcement

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

Insider Activity at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,457,104 in the last quarter. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Bank of America reduced 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. Jefferies Financial Group boosted their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $73.75.

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.