Herbst Group LLC Buys 199 Shares of The Charles Schwab Co. (NYSE:SCHW)

Herbst Group LLC grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 46,050 shares of the financial services provider’s stock after acquiring an additional 199 shares during the quarter. Charles Schwab comprises about 1.8% of Herbst Group LLC’s portfolio, making the stock its 21st biggest holding. Herbst Group LLC’s holdings in Charles Schwab were worth $2,610,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of SCHW. Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter worth $1,325,555,000. CIBC Private Wealth Group LLC lifted its position in shares of Charles Schwab by 107.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock worth $1,399,817,000 after buying an additional 8,680,289 shares during the last quarter. Morgan Stanley lifted its position in shares of Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after buying an additional 8,563,389 shares during the last quarter. Flossbach Von Storch AG lifted its position in shares of Charles Schwab by 48.7% during the 1st quarter. Flossbach Von Storch AG now owns 16,619,849 shares of the financial services provider’s stock worth $870,548,000 after buying an additional 5,445,011 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in Charles Schwab by 91,051.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock valued at $446,706,000 after purchasing an additional 5,359,307 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SCHW. Citigroup increased their price objective on shares of Charles Schwab from $65.00 to $75.00 in a research note on Wednesday, July 19th. Jefferies Financial Group increased their target price on Charles Schwab from $64.00 to $66.00 in a research report on Monday, July 10th. UBS Group increased their target price on Charles Schwab from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Bank of America increased their target price on Charles Schwab from $46.00 to $53.00 in a research report on Thursday, June 15th. Finally, Piper Sandler raised their price target on shares of Charles Schwab from $77.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

Charles Schwab Stock Down 0.1 %

Shares of SCHW traded down $0.08 during trading hours on Tuesday, hitting $57.78. The stock had a trading volume of 1,029,340 shares, compared to its average volume of 16,688,053. The Charles Schwab Co. has a 1-year low of $45.00 and a 1-year high of $86.63. The firm has a market capitalization of $102.28 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The firm has a 50 day simple moving average of $61.68 and a 200-day simple moving average of $57.11. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.39.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.61 billion. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.15%.

Insider Buying and Selling at Charles Schwab

In related news, Director Charles A. Ruffel acquired 833 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $60.55 per share, with a total value of $50,438.15. Following the acquisition, the director now owns 3,386 shares of the company’s stock, valued at approximately $205,022.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 72,047 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $66.66, for a total value of $4,802,653.02. Following the completion of the sale, the chairman now owns 59,748,538 shares in the company, valued at approximately $3,982,837,543.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Ruffel bought 833 shares of Charles Schwab stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $60.55 per share, with a total value of $50,438.15. Following the completion of the acquisition, the director now owns 3,386 shares of the company’s stock, valued at $205,022.30. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 155,807 shares of company stock worth $10,325,149. 6.60% of the stock is owned by corporate insiders.

About Charles Schwab

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. The company operates in two segments, Investor Services and Advisor Services.