The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 30.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,266 shares of the financial services provider’s stock after purchasing an additional 10,157 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Charles Schwab were worth $3,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Country Trust Bank acquired a new stake in Charles Schwab during the 2nd quarter valued at approximately $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 worth $29,000 after buying an additional 192 shares during the last quarter. CGC Financial Services LLC acquired a new stake in Charles Schwab in the second quarter valued at $29,000. Frazier Financial Advisors LLC bought a new position in Charles Schwab during the 4th quarter valued at $30,000. Finally, Tributary Capital Management LLC bought a new position in Charles Schwab during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW traded down $0.57 during midday trading on Tuesday, reaching $63.91. The stock had a trading volume of 7,003,081 shares, compared to its average volume of 8,078,540. 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 company has a market capitalization of $113.59 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.24 and a beta of 0.99. The firm’s 50 day moving average price is $68.09 and its 200-day moving average price is $70.12. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

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 analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. On average, analysts forecast that The Charles Schwab Co. will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent analyst reports. JMP Securities cut their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Bank of America dropped their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $74.00.

Insiders Place Their Bets

In other Charles Schwab 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 cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, President Richard A. Wurster purchased 10,000 shares of the company’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 transaction, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. In the last three months, insiders have sold 107,800 shares of company stock worth $7,145,364. Corporate insiders own 6.60% of the company’s stock.

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.