Intech Investment Management LLC Purchases 4,395 Shares of The Charles Schwab Co. (NYSE:SCHW)

Intech Investment Management LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,194 shares of the financial services provider’s stock after purchasing an additional 4,395 shares during the quarter. Intech Investment Management LLC’s holdings in Charles Schwab were worth $1,857,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC boosted its stake in 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 purchasing an additional 292,155 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Charles Schwab by 4.8% during the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after purchasing an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake 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 valued at $802,800,000 after buying an additional 1,373,223 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated 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 sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’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 of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Barclays lowered their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Morgan Stanley reduced their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company assumed coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.75.

Charles Schwab Price Performance

Shares of SCHW stock opened at $64.95 on Tuesday. The firm has a market capitalization of $115.43 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. 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 firm has a fifty day moving average of $64.08 and a 200-day moving average of $69.93.

Charles Schwab (NYSE:SCHW) last released 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 company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Charles Schwab’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued 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 payout ratio is 41.84%.

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.