King Luther Capital Management Corp Increases Position in The Charles Schwab Co. (NYSE:SCHW)

King Luther Capital Management Corp boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 79.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,492 shares of the financial services provider’s stock after purchasing an additional 11,721 shares during the quarter. King Luther Capital Management Corp’s holdings in Charles Schwab were worth $1,952,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bridges Investment Management Inc. purchased a new stake in Charles Schwab in the 2nd quarter worth $1,625,000. Canada Pension Plan Investment Board increased its stake in shares of Charles Schwab by 12.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,693,022 shares of the financial services provider’s stock worth $124,759,000 after purchasing an additional 185,388 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Charles Schwab by 21.1% during the 2nd quarter. Intech Investment Management LLC now owns 25,194 shares of the financial services provider’s stock worth $1,857,000 after purchasing an additional 4,395 shares during the last quarter. ProVise Management Group LLC lifted its stake in Charles Schwab by 4.2% in the 2nd quarter. ProVise Management Group LLC now owns 158,557 shares of the financial services provider’s stock valued at $11,684,000 after buying an additional 6,330 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Charles Schwab in the 2nd quarter worth about $3,000,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 in the last three months. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Up 1.0 %

Shares of SCHW opened at $65.39 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market cap of $116.29 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company’s 50-day moving average price is $64.28 and its 200 day moving average price is $69.94. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

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, topping analysts’ consensus estimates of $0.72 by $0.01. The firm 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 firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on SCHW shares. UBS Group decreased 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. TD Cowen restated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Bank of America decreased their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $73.75.

Charles Schwab 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.