The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118,318 shares of the financial services provider’s stock after purchasing an additional 91,267 shares during the period. LPL Financial LLC owned about 0.06% of Charles Schwab worth $82,409,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHW. Country Trust Bank acquired a new stake in Charles Schwab in the second quarter valued at $26,000. Fortitude Family Office LLC raised its holdings 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 acquiring an additional 192 shares in the last quarter. American Capital Advisory LLC acquired a new stake in Charles Schwab in the second quarter valued at $27,000. CGC Financial Services LLC acquired a new stake in Charles Schwab in the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab in the second quarter valued at $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock worth $6,533,064 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Charles Schwab stock opened at $62.12 on Friday. The company has a 50-day simple moving average of $65.33 and a 200-day simple moving average of $70.00. The firm has a market capitalization of $110.48 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.19 and a beta of 0.97. 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 Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, equities analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America dropped their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group increased their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barclays dropped their target price 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. Finally, StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $73.75.

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.