The Charles Schwab Co. (NYSE:SCHW) Position Boosted by Addenda Capital Inc.

Addenda Capital Inc. increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,473 shares of the financial services provider’s stock after acquiring an additional 10,096 shares during the quarter. Addenda Capital Inc.’s holdings in Charles Schwab were worth $10,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have 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 increased its stake in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $31,000. Finally, Tributary Capital Management LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. TD Cowen restated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and raised their price target for the company from $76.00 to $84.00 in a research note on Monday, July 8th. Bank of America dropped their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Barclays dropped their price target 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.27.

Insider Buying and Selling

In other news, President Richard A. Wurster acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the purchase, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the sale, the director now owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost 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 $8,949,347.40. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 181,911 shares of company stock valued at $12,541,978. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW traded up $2.86 during trading hours on Wednesday, reaching $65.35. 15,941,045 shares of the company’s stock were exchanged, compared to its average volume of 8,044,388. The company has a market capitalization of $116.22 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $69.67 and its two-hundred day simple moving average is $69.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Sell-side analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, August 9th. Charles Schwab’s dividend payout ratio is 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.