Fiduciary Alliance LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Fiduciary Alliance LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,302 shares of the financial services provider’s stock, valued at approximately $319,000.

Several other institutional investors have also recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD increased its stake in Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Norges Bank bought a new position in shares of Charles Schwab during the fourth quarter valued at about $950,192,000. Boston Partners grew its stake in shares of Charles Schwab by 424.7% during the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after buying an additional 3,602,830 shares during the last quarter. Morningstar Investment Services LLC grew its stake in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Charles Schwab by 19.7% during the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SCHW. JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. UBS Group reduced their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group raised their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Citigroup raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.27.

Charles Schwab Stock Down 0.8 %

SCHW traded down $0.53 on Wednesday, hitting $62.27. The company had a trading volume of 7,330,453 shares, compared to its average volume of 8,032,110. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The stock has a fifty day simple moving average of $70.64 and a 200-day simple moving average of $70.04. The firm has a market capitalization of $110.67 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the business posted $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts expect that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the transaction, the director now directly owns 574,257 shares in the company, valued at $45,027,491.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the sale, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,586 shares of company stock worth $19,570,869. Insiders own 6.60% of the company’s stock.

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.