Legacy Financial Advisors Inc. Increases Position in The Charles Schwab Co. (NYSE:SCHW)

Legacy Financial Advisors Inc. raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,725 shares of the financial services provider’s stock after purchasing an additional 351 shares during the period. Legacy Financial Advisors Inc.’s holdings in Charles Schwab were worth $274,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Summit Trail Advisors LLC raised its stake in Charles Schwab by 109.3% during the second quarter. Summit Trail Advisors LLC now owns 77,473 shares of the financial services provider’s stock valued at $5,709,000 after buying an additional 40,461 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Charles Schwab by 1.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,955,289 shares of the financial services provider’s stock valued at $144,085,000 after acquiring an additional 30,897 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Charles Schwab by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 106,653 shares of the financial services provider’s stock worth $7,859,000 after purchasing an additional 4,696 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Charles Schwab by 2.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 301,290 shares of the financial services provider’s stock worth $22,202,000 after purchasing an additional 6,507 shares in the last quarter. Finally, AE Wealth Management LLC boosted its stake in Charles Schwab by 8.1% in the 2nd quarter. AE Wealth Management LLC now owns 54,686 shares of the financial services provider’s stock worth $4,030,000 after purchasing an additional 4,081 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.0 %

NYSE:SCHW opened at $65.39 on Friday. The firm has a market capitalization of $116.29 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 company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The business has a fifty day moving average price of $64.28 and a 200-day moving average price of $69.94. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The business’s quarterly 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 year.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on SCHW shares. Jefferies Financial Group upped their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley reduced their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Wells Fargo & Company started coverage on Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Finally, Bank of America dropped their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, 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 worth $6,457,104 over the last three months. 6.60% of the stock is currently owned by company 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.