Elo Mutual Pension Insurance Co Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Elo Mutual Pension Insurance Co cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 132,218 shares of the financial services provider’s stock after selling 5,382 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Charles Schwab were worth $9,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Country Trust Bank purchased a new position in Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC boosted its holdings in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab during the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab during the second quarter valued at approximately $29,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen restated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. JMP Securities decreased their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab 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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock valued at $6,533,064. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $63.84 on Wednesday. The company has a market cap of $113.46 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s fifty day moving average is $64.93 and its two-hundred day moving average is $70.03.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) 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 firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced 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. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Charles Schwab 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.