Citizens Financial Group Inc. RI Acquires 3,889 Shares of The Charles Schwab Co. (NYSE:SCHW)

Citizens Financial Group Inc. RI lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,346 shares of the financial services provider’s stock after purchasing an additional 3,889 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Charles Schwab were worth $7,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Norges Bank acquired a new position in Charles Schwab during the fourth quarter worth $950,192,000. Morningstar Investment Services LLC grew its position in Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares in the last quarter. Franklin Resources Inc. increased its stake in Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its position in Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after buying an additional 1,480,485 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction 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 sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,533,064 in the last quarter. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. 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 research report on Wednesday, July 17th. UBS Group lowered their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JMP Securities decreased their target price on shares of 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. TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company initiated coverage on shares of Charles Schwab in a research note on Thursday. They set an “equal weight” rating and a $70.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $73.75.

Charles Schwab Price Performance

Charles Schwab stock opened at $62.12 on Monday. The company has a market capitalization of $110.48 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.16 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock’s 50 day moving average is $65.33 and its 200-day moving average is $70.07.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS 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 firm 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 firm posted $0.75 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 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.