Catalina Capital Group LLC Buys New Position in The Charles Schwab Co. (NYSE:SCHW)

Catalina Capital Group LLC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,380 shares of the financial services provider’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nelson Capital Management LLC boosted its stake in Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares in the last quarter. Abbrea Capital LLC boosted its stake in Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares in the last quarter. Sweet Financial Partners LLC boosted its stake in Charles Schwab by 3.5% in the 1st quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 150 shares in the last quarter. Ironwood Financial llc boosted its stake in Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares in the last quarter. Finally, Sculati Wealth Management LLC raised its position in Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after buying an additional 165 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.12 during midday trading on Friday, hitting $64.39. The stock had a trading volume of 13,127,823 shares, compared to its average volume of 8,089,044. The firm’s fifty day moving average is $68.26 and its two-hundred day moving average is $70.00. The company has a market capitalization of $114.51 billion, a PE ratio of 26.94, a P/E/G ratio of 1.24 and a beta of 0.99. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid 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 1.55%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JMP Securities decreased their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Barclays decreased their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley decreased their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.00.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold 185,231 shares of company stock worth $12,638,320 in the last three months. 6.60% of the stock is owned by company insiders.

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.