Morningstar Investment Services LLC Purchases 176,088 Shares of Charles Schwab Co. (NYSE:SCHW)

Morningstar Investment Services LLC raised its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 28.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792,196 shares of the financial services provider’s stock after acquiring an additional 176,088 shares during the period. Morningstar Investment Services LLC owned about 0.06% of Charles Schwab worth $25,944,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. CX Institutional grew its holdings in shares of Charles Schwab by 109.9% during the 1st quarter. CX Institutional now owns 745 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 390 shares during the last quarter. Ameritas Investment Company LLC bought a new stake in Charles Schwab during the 1st quarter valued at approximately $29,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Charles Schwab in the 1st quarter worth approximately $32,000. Ballast Advisors LLC purchased a new position in shares of Charles Schwab in the 1st quarter valued at approximately $33,000. Finally, AGF Investments LLC purchased a new stake in Charles Schwab in the first quarter worth $33,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SCHW traded down $0.43 during trading on Friday, hitting $33.15. The company had a trading volume of 10,385,035 shares, compared to its average volume of 8,441,462. Charles Schwab Co. has a 12 month low of $28.00 and a 12 month high of $51.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $43.23 billion, a P/E ratio of 13.38 and a beta of 1.25. The stock has a 50 day simple moving average of $34.61 and a 200 day simple moving average of $37.89.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, July 16th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter last year, the business earned $0.66 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. As a group, analysts predict that Charles Schwab Co. will post 2.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.17%. Charles Schwab’s payout ratio is 26.47%.

In other Charles Schwab news, Chairman Charles R. Schwab sold 65,056 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 10,935 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $40.02, for a total transaction of $437,618.70. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

A number of analysts have recently commented on SCHW shares. Wells Fargo & Co boosted their price target on Charles Schwab from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. TheStreet downgraded Charles Schwab from a “b-” rating to a “c” rating in a research note on Monday, July 27th. Cfra reduced their price objective on Charles Schwab from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Wolfe Research raised shares of Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 price objective for the company in a report on Thursday, July 9th. Finally, Compass Point lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Wednesday, May 20th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.50.

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

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