Seeyond grew its position in The Charles Schwab Co. (NYSE:SCHW) by 9.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,490 shares of the financial services provider’s stock after buying an additional 3,117 shares during the quarter. Seeyond’s holdings in The Charles Schwab were worth $2,584,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of SCHW. Ossiam purchased a new stake in shares of The Charles Schwab during the 2nd quarter worth $1,393,000. Covington Capital Management lifted its stake in shares of The Charles Schwab by 0.6% during the 2nd quarter. Covington Capital Management now owns 279,580 shares of the financial services provider’s stock worth $20,356,000 after purchasing an additional 1,555 shares during the last quarter. Toroso Investments LLC lifted its stake in shares of The Charles Schwab by 481.0% during the 2nd quarter. Toroso Investments LLC now owns 60,656 shares of the financial services provider’s stock worth $4,416,000 after purchasing an additional 50,216 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of The Charles Schwab by 10.4% during the 2nd quarter. Gryphon Financial Partners LLC now owns 6,055 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 572 shares during the last quarter. Finally, Kore Private Wealth LLC increased its position in The Charles Schwab by 18.0% during the 2nd quarter. Kore Private Wealth LLC now owns 6,472 shares of the financial services provider’s stock valued at $471,000 after buying an additional 985 shares in the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 28,000 shares of the stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $78.50, for a total value of $2,198,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan M. Craig sold 902 shares of the stock in a transaction that occurred on Tuesday, September 28th. The shares were sold at an average price of $77.96, for a total value of $70,319.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 597,522 shares of company stock worth $44,174,000. Company insiders own 7.50% of the company’s stock.
The Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, July 15th. The financial services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.46 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The business’s revenue was up 84.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.72 annualized dividend and a dividend yield of 0.94%. The Charles Schwab’s dividend payout ratio (DPR) is presently 29.39%.
A number of brokerages have recently weighed in on SCHW. Atlantic Securities began coverage on The Charles Schwab in a report on Tuesday, October 5th. They issued an “overweight” rating and a $95.00 price objective on the stock. increased their price objective on The Charles Schwab from $93.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 12th. The Goldman Sachs Group lowered The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a report on Thursday, July 8th. Zacks Investment Research raised The Charles Schwab from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Wednesday, September 29th. Finally, Morgan Stanley increased their price objective on The Charles Schwab from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, The Charles Schwab currently has an average rating of “Buy” and an average target price of $82.94.
The Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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