The Charles Schwab Corporation $SCHW Holdings Cut by Cooper Financial Group

Cooper Financial Group lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 41.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,739 shares of the financial services provider’s stock after selling 7,458 shares during the period. Cooper Financial Group’s holdings in Charles Schwab were worth $991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Charles Schwab by 1.0% during the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after acquiring an additional 691,671 shares in the last quarter. Geode Capital Management LLC grew its stake in Charles Schwab by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after purchasing an additional 98,242 shares in the last quarter. Franklin Resources Inc. grew its stake in Charles Schwab by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after purchasing an additional 78,020 shares in the last quarter. Primecap Management Co. CA increased its position in Charles Schwab by 9.7% in the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Charles Schwab by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after purchasing an additional 171,926 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nigel J. Murtagh sold 32,947 shares of Charles Schwab stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $104.01, for a total value of $3,426,817.47. Following the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $6,029,667.72. The trade was a 36.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the transaction, the insider directly owned 11,738 shares of the company’s stock, valued at $1,223,216.98. This represents a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 363,848 shares of company stock worth $37,874,706. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. TD Cowen increased their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wolfe Research restated an “outperform” rating and set a $127.00 price target on shares of Charles Schwab in a report on Tuesday, July 21st. Morgan Stanley lifted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Trading Down 0.1%

Shares of SCHW stock opened at $107.55 on Friday. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $109.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $97.28 and its two-hundred day moving average is $95.66. The company has a market cap of $187.04 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. Charles Schwab’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Equities analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is currently 23.27%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.