Greystone Financial Group LLC Acquires 1,698 Shares of The Charles Schwab Co. (NYSE:SCHW)

Greystone Financial Group LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,573 shares of the financial services provider’s stock after purchasing an additional 1,698 shares during the period. Greystone Financial Group LLC’s holdings in Charles Schwab were worth $632,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morningstar Investment Services LLC grew its holdings in shares of Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. boosted its position in Charles Schwab by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after buying an additional 857,734 shares during the period. M&G Plc purchased a new stake in Charles Schwab during the 1st quarter valued at $11,452,000. Franklin Resources Inc. boosted its position in Charles Schwab by 19.7% during the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 17,925 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.2 %

NYSE:SCHW traded down $0.79 on Friday, reaching $62.90. 8,331,675 shares of the stock traded hands, compared to its average volume of 8,023,185. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.22 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company’s fifty day simple moving average is $66.44 and its 200 day simple moving average is $70.06.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Transactions at Charles Schwab

In other news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at $9,124,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’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 transaction 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 disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock worth $7,145,364 over the last three months. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SCHW shares. UBS Group dropped their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Bank of America dropped their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.00.

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.