The Charles Schwab Co. (NYSE:SCHW) Stock Position Lifted by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its position in The Charles Schwab Co. (NYSE:SCHW) by 381.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,575 shares of the financial services provider’s stock after acquiring an additional 242,894 shares during the quarter. 1832 Asset Management L.P.’s holdings in Charles Schwab were worth $22,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares during the period. Mondrian Investment Partners LTD grew its position in shares of Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after buying an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Charles Schwab during the first quarter worth about $105,563,000. Finally, Wellington Management Group LLP lifted its holdings in 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 acquiring an additional 1,373,223 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JMP Securities lowered their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. 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. Finally, Bank of America reduced their target price 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Trading Down 0.7 %

Shares of SCHW stock opened at $64.95 on Tuesday. 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 stock has a 50-day simple moving average of $64.08 and a 200 day simple moving average of $69.93. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a market capitalization of $115.43 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.19 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted 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 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 analyst estimates of $4.68 billion. During the same quarter last year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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 was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’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 sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred 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 owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,457,104 in the last three months. 6.60% of the stock is currently owned by corporate 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.