River Wealth Advisors LLC Cuts Position in Charles Schwab Co. (NYSE:SCHW)

River Wealth Advisors LLC decreased its position in Charles Schwab Co. (NYSE:SCHW) by 16.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,584 shares of the financial services provider’s stock after selling 2,398 shares during the quarter. River Wealth Advisors LLC’s holdings in Charles Schwab were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. ARK Investment Management LLC grew its stake in shares of Charles Schwab by 16.8% in the second quarter. ARK Investment Management LLC now owns 20,100 shares of the financial services provider’s stock worth $808,000 after acquiring an additional 2,888 shares in the last quarter. Liberty Wealth Management LLC grew its stake in shares of Charles Schwab by 617.3% in the second quarter. Liberty Wealth Management LLC now owns 6,750 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 5,809 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in shares of Charles Schwab by 16.2% in the second quarter. MBM Wealth Consultants LLC now owns 5,738 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 799 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Charles Schwab by 85.7% in the second quarter. First Trust Advisors LP now owns 78,377 shares of the financial services provider’s stock worth $3,150,000 after acquiring an additional 36,175 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its stake in shares of Charles Schwab by 38.1% during the second quarter. Berman Capital Advisors LLC now owns 1,445 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 399 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

In other news, Director Stephen T. Mclin sold 4,356 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $43.85, for a total value of $191,010.60. Following the completion of the sale, the director now directly owns 7,592 shares of the company’s stock, valued at $332,909.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $40.20, for a total transaction of $150,348.00. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.

NYSE SCHW traded down $0.58 during trading hours on Friday, hitting $36.87. The company had a trading volume of 13,028,787 shares, compared to its average volume of 11,503,362. The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.40. Charles Schwab Co. has a 1-year low of $36.49 and a 1-year high of $52.70. The stock has a market cap of $48.95 billion, a P/E ratio of 15.05, a PEG ratio of 2.46 and a beta of 1.25. The firm has a 50 day moving average of $41.00.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Charles Schwab’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Charles Schwab Co. will post 2.68 earnings per share for the current year.

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 $0.17 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.84%. Charles Schwab’s dividend payout ratio is presently 27.76%.

SCHW has been the subject of a number of analyst reports. Wells Fargo & Co upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, July 22nd. Citigroup lowered their target price on shares of Charles Schwab from $43.50 to $39.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $49.00 to $43.00 in a research note on Friday, July 12th. ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $43.50 in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Charles Schwab currently has an average rating of “Hold” and an average target price of $47.80.

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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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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