5,926 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,926 shares of the financial services provider’s stock, valued at approximately $437,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Country Trust Bank purchased a new position in shares of Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the second quarter worth about $27,000. Fortitude Family Office LLC lifted its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC acquired a new stake in Charles Schwab in the second quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 99,636 shares of company stock valued at $6,533,064. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research 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 for the company in a research report on Tuesday, July 9th. Morgan Stanley reduced their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $74.00.

Charles Schwab Trading Up 0.1 %

Shares of SCHW opened at $63.07 on Wednesday. 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 simple moving average of $66.01 and a 200-day simple moving average of $70.12. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The stock has a market cap of $112.17 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued 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. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business 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 revenue was up .7% on a year-over-year basis. Equities analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid 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 1.59%. Charles Schwab’s dividend payout ratio (DPR) 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.