Clearbridge Investments LLC Has $240.39 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Clearbridge Investments LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,262,233 shares of the financial services provider’s stock after purchasing an additional 69,537 shares during the period. Clearbridge Investments LLC owned approximately 0.18% of Charles Schwab worth $240,394,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Morningstar Investment Services LLC raised its holdings in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the period. M&G Plc acquired a new position in Charles Schwab during the 1st quarter worth approximately $11,452,000. Daiwa Securities Group Inc. boosted its holdings in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares in the last quarter. Teewinot Capital Advisers L.L.C. grew its stake in Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Charles Schwab by 12.2% during the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after acquiring an additional 1,430 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SCHW. Citigroup reduced their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Barclays decreased their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Finally, Wells Fargo & Company assumed coverage on Charles Schwab in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.31.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $63.91 on Wednesday. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company’s 50-day moving average is $64.08 and its 200 day moving average is $69.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $113.66 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping 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 business posted $0.75 EPS. Charles Schwab’s quarterly 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 company also recently declared 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 of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.