Signature Estate & Investment Advisors LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Signature Estate & Investment Advisors LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,251 shares of the financial services provider’s stock, valued at approximately $461,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 33.4% in 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 purchased a new position in Charles Schwab during the 4th quarter valued at about $950,192,000. Boston Partners raised its position in Charles Schwab by 424.7% during the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after purchasing an additional 3,602,830 shares during the last quarter. Morningstar Investment Services LLC increased its stake in shares of Charles Schwab by 98.0% during 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 buying an additional 2,322,156 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after acquiring an additional 1,558,975 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.9 %

Shares of NYSE:SCHW opened at $63.91 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. 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 cap of $113.59 billion, a P/E ratio of 26.74, a PEG ratio of 1.24 and a beta of 0.99. The stock’s fifty day moving average price is $68.09 and its 200-day moving average price is $70.12.

Charles Schwab (NYSE:SCHW) last issued 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 for 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 quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. Sell-side analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.56%. Charles Schwab’s payout ratio is 41.84%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCHW. Jefferies Financial Group lifted their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. 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. Barclays reduced their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. TD Cowen restated a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three equities research 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. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $74.00.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average price 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 owns 827,377 shares in the company, valued at approximately $54,822,000.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Richard A. Wurster acquired 10,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased 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 disclosure for this purchase can be found here. Insiders sold a total of 107,800 shares of company stock worth $7,145,364 in the last three months. 6.60% of the stock is currently 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.