Cozad Asset Management Inc. grew its position in Charles Schwab Co. (NYSE:SCHW) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,229 shares of the financial services provider’s stock after acquiring an additional 2,750 shares during the quarter. Cozad Asset Management Inc.’s holdings in Charles Schwab were worth $3,064,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC lifted its holdings in shares of Charles Schwab by 133.3% during the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 400 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Charles Schwab during the first quarter worth $32,000. Berman Capital Advisors LLC lifted its holdings in shares of Charles Schwab by 260.7% during the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 756 shares during the period. Glassman Wealth Services lifted its holdings in shares of Charles Schwab by 51.0% during the second quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 371 shares during the period. Finally, First PREMIER Bank acquired a new stake in shares of Charles Schwab during the second quarter worth $49,000. 79.93% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Charles R. Schwab sold 105,422 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.08, for a total value of $4,225,313.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,677 shares of company stock valued at $8,997,842. Company insiders own 10.90% of the company’s stock.
Several brokerages recently weighed in on SCHW. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Argus reaffirmed a “buy” rating and set a $52.00 price target (down from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Wolfe Research upgraded Charles Schwab from a “peer perform” rating to an “outperform” rating and increased their price objective for the stock from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Citigroup cut their price objective on Charles Schwab from $43.50 to $39.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Morgan Stanley cut their price objective on Charles Schwab from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Charles Schwab currently has an average rating of “Buy” and a consensus price target of $47.25.
NYSE:SCHW traded down $0.26 during trading hours on Thursday, hitting $42.50. The company’s stock had a trading volume of 157,854 shares, compared to its average volume of 7,802,125. Charles Schwab Co. has a 52-week low of $35.85 and a 52-week high of $52.70. The company has a market capitalization of $53.73 billion, a PE ratio of 17.42, a PEG ratio of 2.71 and a beta of 1.29. The business’s 50-day moving average is $39.16 and its two-hundred day moving average is $42.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that Charles Schwab Co. will post 2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, August 8th. Charles Schwab’s dividend payout ratio is currently 27.76%.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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