Livforsakringsbolaget Skandia Omsesidigt raised its stake in Charles Schwab Co. (NYSE:SCHW) by 14.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,713 shares of the financial services provider’s stock after acquiring an additional 1,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Charles Schwab were worth $551,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at $32,000. Berman Capital Advisors LLC grew its position in 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 valued at $44,000 after acquiring an additional 756 shares during the period. Spectrum Management Group Inc. grew its position in Charles Schwab by 44.5% during the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 330 shares during the period. Liberty Wealth Management LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $49,000. Finally, First PREMIER Bank purchased a new stake in Charles Schwab during the second quarter valued at about $49,000. 78.92% of the stock is owned by institutional investors.
Shares of SCHW traded down $0.18 during midday trading on Wednesday, reaching $42.84. 136,651 shares of the company were exchanged, compared to its average volume of 9,188,690. The company’s 50-day moving average is $41.33. The stock has a market capitalization of $58.81 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.24. Charles Schwab Co. has a 1-year low of $37.83 and a 1-year high of $52.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, August 8th. Charles Schwab’s dividend payout ratio is presently 27.76%.
In related news, Chairman Charles R. Schwab sold 56,280 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $46.27, for a total value of $2,604,075.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was 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 have sold 64,376 shares of company stock worth $2,945,434. 10.90% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target on Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Bank of America set a $80.00 price target on Colgate-Palmolive and gave the company a “buy” rating in a research report on Friday, July 12th. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Keefe, Bruyette & Woods raised Focus Financial Partners from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $35.00 to $35.50 in a research report on Friday, July 12th. Finally, Wells Fargo & Co downgraded Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $62.00 to $50.00 in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.80.
Charles Schwab 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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