Signet Financial Management LLC purchased a new position in shares of Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,524 shares of the financial services provider’s stock, valued at approximately $3,283,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SCHW. FNY Investment Advisers LLC grew its holdings in shares of Charles Schwab by 133.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 400 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at $32,000. Berman Capital Advisors LLC boosted its position in Charles Schwab by 260.7% during the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 756 shares during the period. Glassman Wealth Services boosted its position in Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 371 shares during the period. Finally, First PREMIER Bank purchased a new stake in Charles Schwab during the 2nd quarter worth $49,000. 79.93% of the stock is currently owned by institutional investors.

SCHW traded up $0.74 on Wednesday, reaching $42.70. The company’s stock had a trading volume of 5,186,427 shares, compared to its average volume of 7,533,573. Charles Schwab Co. has a 1 year low of $35.85 and a 1 year high of $52.70. The business’s 50 day moving average is $39.18 and its 200 day moving average is $42.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $53.73 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the business earned $0.60 EPS. Charles Schwab’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Charles Schwab Co. will post 2.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given 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 was Thursday, August 8th. Charles Schwab’s payout ratio is currently 27.76%.

In other Charles Schwab news, Chairman Charles R. Schwab sold 105,422 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Mclin sold 5,093 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The disclosure for this sale can be found here. Insiders have sold 114,255 shares of company stock valued at $4,566,955 in the last three months. Corporate insiders own 10.90% of the company’s stock.

SCHW has been the topic of several research reports. Compass Point set a $45.00 price objective on Charles Schwab and gave the company a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. set a $44.00 target price on Charles Schwab and gave the company a “buy” rating in a report on Friday, June 21st. Bank of America downgraded Charles Schwab from a “buy” rating to a “neutral” rating and dropped their target price for the company from $49.00 to $43.00 in a report on Friday, July 12th. Wells Fargo & Co raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, July 22nd. Finally, Argus restated a “buy” rating and issued a $52.00 price target (down previously from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Charles Schwab presently has a consensus rating of “Buy” and an average price target of $47.25.

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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