Pacer Advisors Inc. Buys 4,696 Shares of The Charles Schwab Co. (NYSE:SCHW)

Pacer Advisors Inc. lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,653 shares of the financial services provider’s stock after acquiring an additional 4,696 shares during the quarter. Pacer Advisors Inc.’s holdings in Charles Schwab were worth $7,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after buying an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Charles Schwab by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after buying an additional 1,373,223 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Charles Schwab stock opened at $64.95 on Tuesday. The company has a market cap of $115.43 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.19 and a beta of 0.97. The firm’s fifty day moving average is $64.08 and its 200 day moving average is $69.93. 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 Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly 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. 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 for the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Charles Schwab’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced 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 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. 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 report on Tuesday, July 23rd. Finally, Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” 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 given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.75.

Insider Activity

In other news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction 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 sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jonathan S. Beatty sold 780 shares of the company’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 directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by company insiders.

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.