B. Riley Wealth Advisors Inc. Has $2.89 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

B. Riley Wealth Advisors Inc. boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.9% during the first quarter, Holdings Channel reports. The fund owned 39,956 shares of the financial services provider’s stock after acquiring an additional 1,850 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Charles Schwab were worth $2,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Fifth Third Bancorp grew its holdings in Charles Schwab by 16.8% during the 4th quarter. Fifth Third Bancorp now owns 159,454 shares of the financial services provider’s stock worth $10,970,000 after acquiring an additional 22,979 shares during the last quarter. Argus Investors Counsel Inc. boosted its stake in shares of Charles Schwab by 4.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 26,731 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 1,035 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in shares of Charles Schwab by 81.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 268 shares during the last quarter. Veracity Capital LLC boosted its stake in shares of Charles Schwab by 6.9% in the 4th quarter. Veracity Capital LLC now owns 5,968 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 385 shares during the last quarter. Finally, Essex Savings Bank boosted its stake in shares of Charles Schwab by 16.1% in the 4th quarter. Essex Savings Bank now owns 23,953 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 3,320 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, President Richard A. Wurster acquired 10,000 shares of the 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 completion of the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were acquired at an average price of $62.05 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders sold 350,178 shares of company stock valued at $26,136,963 over the last quarter. 6.60% of the stock is owned by company insiders.

Charles Schwab Trading Down 0.3 %

Shares of Charles Schwab stock opened at $64.97 on Thursday. The stock has a market cap of $115.47 billion, a PE ratio of 27.28, a PEG ratio of 1.21 and a beta of 0.99. The firm has a 50-day moving average of $71.34 and a 200-day moving average of $70.02. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% 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 quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.09 EPS for the current year.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCHW. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Barclays reduced their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Citigroup raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.27.

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.