Jupiter Topco LLC Makes New Investment in The Charles Schwab Corporation $SCHW

Jupiter Topco LLC bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,078 shares of the financial services provider’s stock, valued at approximately $5,001,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. State Street Corp boosted its stake in shares of Charles Schwab by 1.0% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $3,747,646,000 after purchasing an additional 98,242 shares during the period. Franklin Resources Inc. boosted its position in shares of 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 worth $3,015,720,000 after purchasing an additional 78,020 shares during the period. Primecap Management Co. CA increased its stake in shares of Charles Schwab by 9.7% in the fourth 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 in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings 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 buying an additional 171,926 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 0.2%

NYSE SCHW opened at $109.96 on Tuesday. The company has a market capitalization of $190.16 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company’s 50-day simple moving average is $103.78 and its two-hundred day simple moving average is $96.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53.

Charles Schwab (NYSE:SCHW) last posted its earnings results 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 company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.Charles Schwab’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Equities analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analysts Set New Price Targets

SCHW has been the subject of a number of research analyst reports. Compass Point assumed coverage on shares of Charles Schwab in a report on Monday, August 3rd. They set a “buy” rating and a $135.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. BMO Capital Markets lowered Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price target on the stock. in a report on Monday, July 20th. Finally, Argus raised their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.17.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,778 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,319,527.72. This represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 74,388 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $110.91, for a total transaction of $8,250,373.08. Following the completion of the transaction, the chairman directly owned 610,360 shares of the company’s stock, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 649,582 shares of company stock worth $69,948,015. Insiders own 6.30% of the company’s stock.

About Charles Schwab

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.