Daiwa Securities Group Inc. Purchases 7,853 Shares of The Charles Schwab Co. (NYSE:SCHW)

Daiwa Securities Group Inc. grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,450 shares of the financial services provider’s stock after purchasing an additional 7,853 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Charles Schwab were worth $14,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SCHW. Nelson Capital Management LLC boosted its stake in shares of Charles Schwab by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC raised its holdings in Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc lifted its position in Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 160 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 164 shares during the period. Finally, Sculati Wealth Management LLC increased its position in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after buying an additional 165 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SCHW shares. Morgan Stanley cut their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. JMP Securities dropped their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. Finally, Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.00.

Charles Schwab Trading Up 0.1 %

SCHW stock opened at $63.07 on Wednesday. The firm has a fifty day moving average price of $66.01 and a 200 day moving average price of $70.12. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market cap of $112.17 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Activity

In related news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now owns 570,657 shares in the company, valued at $41,366,925.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,533,064 in the last ninety days. Insiders own 6.60% of the company’s stock.

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.