Arkadios Wealth Advisors Acquires 2,450 Shares of The Charles Schwab Co. (NYSE:SCHW)

Arkadios Wealth Advisors grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 37.8% in the second quarter, Holdings Channel reports. The firm owned 8,929 shares of the financial services provider’s stock after acquiring an additional 2,450 shares during the period. Arkadios Wealth Advisors’ holdings in Charles Schwab were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. boosted its stake in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 valued at $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC raised its position in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after buying an additional 296,317 shares during the last quarter. Finally, Norges Bank acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $950,192,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SCHW shares. Jefferies Financial Group raised their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TD Cowen reissued a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, UBS Group dropped their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.95 during midday trading on Thursday, reaching $64.93. The company had a trading volume of 6,429,401 shares, compared to its average volume of 8,069,023. 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 Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The company has a market capitalization of $115.40 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.24 and a beta of 0.99. The firm’s fifty day simple moving average is $67.73 and its 200-day simple moving average is $70.08.

Charles Schwab (NYSE:SCHW) last posted its quarterly 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 company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.54%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity at Charles Schwab

In related news, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the acquisition, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the sale, the insider now directly owns 121,666 shares in the company, valued at $9,124,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Richard A. Wurster acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the purchase, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 107,800 shares of company stock worth $7,145,364. Insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.