WealthPLAN Partners LLC Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

WealthPLAN Partners LLC increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.8% in the second quarter, Holdings Channel reports. The fund owned 8,401 shares of the financial services provider’s stock after purchasing an additional 953 shares during the quarter. WealthPLAN Partners LLC’s holdings in Charles Schwab were worth $619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the period. Putnam Investments LLC boosted its position in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after acquiring an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after acquiring an additional 1,373,223 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Walter W. Bettinger purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock worth $6,533,064 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

NYSE SCHW opened at $63.84 on Wednesday. The company has a market cap of $113.46 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.16 and a beta of 0.97. 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 stock’s fifty day moving average price is $64.93 and its 200 day moving average price is $70.03. 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 announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share 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 business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCHW. JMP Securities decreased their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. UBS Group decreased their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Bank of America lowered their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.75.

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.