The Charles Schwab Co. (NYSE:SCHW) is Heron Bay Capital Management’s 4th Largest Position

Heron Bay Capital Management cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 281,833 shares of the financial services provider’s stock after selling 4,843 shares during the period. Charles Schwab makes up 4.4% of Heron Bay Capital Management’s holdings, making the stock its 4th biggest holding. Heron Bay Capital Management’s holdings in Charles Schwab were worth $20,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. Fortitude Family Office LLC grew its holdings in shares of 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 in the last quarter. CGC Financial Services LLC purchased a new stake in Charles Schwab during the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab stock in a transaction 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 acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 99,636 shares of company stock valued at $6,457,104. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 1.0 %

Charles Schwab stock opened at $65.39 on Friday. 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 fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a 50-day simple moving average of $64.28 and a 200-day simple moving average of $69.94. The company has a market capitalization of $116.29 billion, a P/E ratio of 27.36, a PEG ratio of 1.19 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

Several equities analysts have commented on SCHW shares. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. JMP Securities reduced their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Wells Fargo & Company initiated coverage on Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Finally, TD Cowen reaffirmed a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.75.

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.