Donald L. Hagan LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Donald L. Hagan LLC reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 41.5% in the second quarter, Holdings Channel.com reports. The fund owned 12,330 shares of the financial services provider’s stock after selling 8,738 shares during the quarter. Donald L. Hagan LLC’s holdings in Charles Schwab were worth $909,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter worth $950,192,000. Boston Partners grew its position in shares of Charles Schwab by 424.7% during the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock worth $305,400,000 after buying an additional 3,602,830 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after acquiring an additional 1,558,975 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock traded up $0.32 during midday trading on Friday, reaching $65.55. 5,335,188 shares of the company traded hands, compared to its average volume of 10,657,670. The firm has a market cap of $116.58 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s 50 day simple moving average is $69.14 and its two-hundred day simple moving average is $70.02. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the business posted $0.75 earnings per share. Charles Schwab’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insiders Place Their Bets

In related news, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the sale, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. Insiders sold a total of 181,911 shares of company stock worth $12,541,978 over the last ninety days. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SCHW. Keefe, Bruyette & Woods raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $76.00 to $84.00 in a research report on Monday, July 8th. JMP Securities dropped their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Barclays decreased their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley dropped their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.27.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.