The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,238 shares of the financial services provider’s stock after purchasing an additional 1,062 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Charles Schwab were worth $681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank purchased a new position in Charles Schwab during the second quarter worth approximately $26,000. Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab during the 4th quarter valued at about $30,000. Finally, Tributary Capital Management LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.2 %

SCHW stock traded up $0.12 during midday trading on Friday, hitting $64.39. The company’s stock had a trading volume of 13,127,823 shares, compared to its average volume of 8,089,044. The firm has a 50-day simple moving average of $68.26 and a 200-day simple moving average of $70.00. The firm has a market capitalization of $114.51 billion, a P/E ratio of 26.94, a PEG ratio of 1.24 and a beta of 0.99. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,231 shares of company stock worth $12,638,320. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SCHW. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Bank of America cut their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.00.

About Charles Schwab

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.