L & S Advisors Inc bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,472 shares of the financial services provider’s stock, valued at approximately $1,656,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Morningstar Investment Services LLC lifted its holdings in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares during the last quarter. M&G Plc acquired a new position in Charles Schwab in the first quarter valued at approximately $11,452,000. Daiwa Securities Group Inc. increased its stake in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital raised its holdings in Charles Schwab by 12.2% during the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of Charles Schwab by 217.8% during the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock worth $13,371,000 after buying an additional 133,186 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.
Charles Schwab Stock Performance
NYSE:SCHW opened at $63.84 on Wednesday. The firm has a market cap of $113.46 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. 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 Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The firm’s fifty day moving average price is $64.93 and its 200 day moving average price is $70.03.
Charles Schwab Announces Dividend
The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. JMP Securities dropped their target price on shares of 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. UBS Group dropped their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays reduced their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Jefferies Financial Group lifted their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.75.
Check Out Our Latest Research Report on Charles Schwab
Insider Activity
In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,533,064 in the last three months. 6.60% of the stock is currently owned by company insiders.
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.
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