Signature Estate & Investment Advisors LLC Purchases Shares of 6,251 The Charles Schwab Co. (NYSE:SCHW)

Signature Estate & Investment Advisors LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,251 shares of the financial services provider’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Country Trust Bank acquired a new stake in Charles Schwab during the second quarter worth about $26,000. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $29,000. Tributary Capital Management LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at $31,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.9 %

Shares of NYSE SCHW opened at $63.91 on Wednesday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The business’s 50 day moving average is $68.09 and its two-hundred day moving average is $70.12. The firm has a market cap of $113.59 billion, a price-to-earnings ratio of 26.74, 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.

Charles Schwab (NYSE:SCHW) last announced its 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. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Research analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley decreased their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Bank of America lowered their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.00.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the sale, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. Insiders have sold 107,800 shares of company stock valued at $7,145,364 over the last quarter. 6.60% of the stock is owned by insiders.

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.