Raymond James & Associates Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Raymond James & Associates raised its position in The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,747,705 shares of the financial services provider’s stock after purchasing an additional 39,949 shares during the period. Raymond James & Associates owned 0.10% of Charles Schwab worth $128,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Country Trust Bank purchased a new position in shares of Charles Schwab during the 2nd quarter worth $26,000. Fortitude Family Office LLC raised its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Tributary Capital Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth $31,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Charles Schwab in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $65.21 on Monday. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a market cap of $115.97 billion, a PE ratio of 27.43, a P/E/G ratio of 1.23 and a beta of 0.99. 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 business has a 50-day simple moving average of $69.14 and a 200-day simple moving average of $70.02.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 the consensus estimate of $4.68 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

SCHW has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. TD Cowen restated a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Barclays reduced their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Morgan Stanley reduced their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.27.

Insider Transactions at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 172,911 shares of company stock valued at $11,836,288. 6.60% of the stock is currently owned by corporate 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.