Clear Perspective Advisors LLC Buys 2,164 Shares of The Charles Schwab Co. (NYSE:SCHW)

Clear Perspective Advisors LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 57.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,907 shares of the financial services provider’s stock after purchasing an additional 2,164 shares during the period. Clear Perspective Advisors LLC’s holdings in The Charles Schwab were worth $430,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. UBS Asset Management Americas Inc. lifted its holdings in shares of The Charles Schwab by 30.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 7,168,205 shares of the financial services provider’s stock worth $467,224,000 after acquiring an additional 1,664,240 shares during the period. National Pension Service lifted its holdings in shares of The Charles Schwab by 5.6% during the 1st quarter. National Pension Service now owns 2,039,597 shares of the financial services provider’s stock worth $132,941,000 after acquiring an additional 107,945 shares during the period. BlackRock Inc. lifted its holdings in shares of The Charles Schwab by 4.3% during the 2nd quarter. BlackRock Inc. now owns 112,447,685 shares of the financial services provider’s stock worth $8,187,314,000 after acquiring an additional 4,670,450 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of The Charles Schwab by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,417,167 shares of the financial services provider’s stock worth $1,049,714,000 after acquiring an additional 1,538,627 shares during the period. Finally, MUFG Americas Holdings Corp lifted its holdings in shares of The Charles Schwab by 2.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 265,155 shares of the financial services provider’s stock worth $19,305,000 after acquiring an additional 6,455 shares during the period. 71.66% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on SCHW shares. Morgan Stanley lifted their price target on shares of The Charles Schwab from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 8th. Zacks Investment Research raised shares of The Charles Schwab from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, September 29th. JMP Securities lifted their price target on shares of The Charles Schwab from $83.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, July 23rd. The Goldman Sachs Group cut shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 8th. Finally, raised their price objective on shares of The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, July 12th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $82.94.

In other news, Chairman Charles R. Schwab sold 2,600 shares of the business’s stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $70.00, for a total value of $182,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nigel J. Murtagh sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $74.76, for a total transaction of $1,869,000.00. Following the completion of the sale, the executive vice president now directly owns 82,484 shares in the company, valued at approximately $6,166,503.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 597,522 shares of company stock worth $44,174,000. Insiders own 7.50% of the company’s stock.

NYSE SCHW traded up $1.58 during trading on Thursday, reaching $77.85. 86,612 shares of the stock traded hands, compared to its average volume of 7,177,072. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.39. The Charles Schwab Co. has a fifty-two week low of $37.01 and a fifty-two week high of $78.94. The stock’s 50-day moving average price is $73.30 and its 200 day moving average price is $71.26. The firm has a market cap of $140.68 billion, a price-to-earnings ratio of 32.18 and a beta of 1.05.

The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, July 15th. The financial services provider reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the firm posted $0.54 EPS. The business’s quarterly revenue was up 84.8% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Co. will post 3.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s payout ratio is currently 29.39%.

The Charles Schwab Company Profile

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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

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