Herbst Group LLC Increases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Herbst Group LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,050 shares of the financial services provider’s stock after acquiring an additional 199 shares during the period. Charles Schwab accounts for about 1.8% of Herbst Group LLC’s investment portfolio, making the stock its 21st largest position. Herbst Group LLC’s holdings in Charles Schwab were worth $2,610,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Vontobel Holding Ltd. lifted its holdings in Charles Schwab by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after purchasing an additional 1,452 shares in the last quarter. Moors & Cabot Inc. lifted its position in Charles Schwab by 4.3% during the first quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock valued at $528,000 after buying an additional 259 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Charles Schwab by 25.4% in the first quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 2,648 shares during the period. Brighton Jones LLC boosted its holdings in Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 267 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Charles Schwab by 16.6% in the first quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 176 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.1 %

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

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.27 EPS for the current year.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of Charles Schwab from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Argus increased their price objective on shares of Charles Schwab from $70.00 to $81.00 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. The Goldman Sachs Group raised their price target on shares of Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Morgan Stanley raised their price target on Charles Schwab from $68.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $72.28.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 75,760 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total transaction of $5,045,616.00. Following the transaction, the chairman now directly owns 59,672,778 shares of the company’s stock, valued at $3,974,207,014.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total value of $5,045,616.00. Following the completion of the sale, the chairman now directly owns 59,672,778 shares of the company’s stock, valued at $3,974,207,014.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 72,047 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $66.66, for a total transaction of $4,802,653.02. Following the completion of the sale, the chairman now directly owns 59,748,538 shares of the company’s stock, valued at $3,982,837,543.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,807 shares of company stock valued at $10,325,149. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company Profile

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.