Modus Advisors LLC Acquires 2,526 Shares of The Charles Schwab Co. (NYSE:SCHW)

Modus Advisors LLC increased its position in The Charles Schwab Co. (NYSE:SCHW) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,262 shares of the financial services provider’s stock after buying an additional 2,526 shares during the quarter. Modus Advisors LLC’s holdings in Charles Schwab were worth $2,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $5,230,657,000 after purchasing an additional 2,946,327 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Charles Schwab by 1.6% in the 4th 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. Wellington Management Group LLP lifted its holdings in shares of Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after purchasing an additional 1,373,223 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company assumed coverage on Charles Schwab in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. JMP Securities lowered their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, UBS Group lowered their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $72.25.

Charles Schwab Trading Up 0.3 %

SCHW traded up $0.20 during trading on Thursday, hitting $66.90. 1,895,735 shares of the stock traded hands, compared to its average volume of 7,995,876. The firm has a market capitalization of $118.98 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.39 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 firm has a 50-day moving average of $63.98 and a 200 day moving average of $69.60. 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 earnings results on Tuesday, July 16th. The financial services provider reported $0.73 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 firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the company posted $0.75 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Buying and Selling

In other Charles Schwab news, President Richard A. Wurster purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, President Richard A. Wurster purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,856 shares of company stock worth $6,398,604 in the last three months. 6.60% of the stock is owned by corporate insiders.

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.