Prime Capital Investment Advisors LLC Has $7.21 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Prime Capital Investment Advisors LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 97,778 shares of the financial services provider’s stock after selling 2,911 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Charles Schwab were worth $7,205,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth approximately $466,000. Financial Advocates Investment Management bought a new stake in Charles Schwab during the fourth quarter worth $296,000. Level Four Advisory Services LLC boosted its holdings in shares of Charles Schwab by 11.9% in the 4th quarter. Level Four Advisory Services LLC now owns 7,743 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 822 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Charles Schwab by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 24,905 shares of the financial services provider’s stock valued at $1,713,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Charles Schwab by 16.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,190 shares of the financial services provider’s stock worth $82,000 after buying an additional 170 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the purchase, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 99,636 shares of company stock worth $6,533,064. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $62.12 on Monday. The business has a 50-day moving average of $65.33 and a 200-day moving average of $70.07. 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 capitalization of $110.48 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly 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. 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 quarter last year, the business earned $0.75 EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SCHW shares. Barclays reduced their price objective on 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. JMP Securities lowered their price objective on shares of 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. Jefferies Financial Group raised their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.75.

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.