Weaver Capital Management LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Weaver Capital Management LLC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,771 shares of the financial services provider’s stock, valued at approximately $499,000.

Other large investors also recently bought and sold shares of the company. Country Trust Bank purchased a new position in shares of Charles Schwab in the 2nd quarter valued at about $26,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. UBS Group decreased their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Bank of America decreased their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.00.

Insider Activity at Charles Schwab

In related news, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Walter W. Bettinger purchased 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold 107,800 shares of company stock valued at $7,145,364 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $64.85 on Wednesday. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a market capitalization of $115.33 billion, a P/E ratio of 27.12, a PEG ratio of 1.22 and a beta of 0.97. The business has a 50 day moving average price of $67.04 and a 200 day moving average price of $70.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the business posted $0.75 EPS. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

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.