Elefante Mark B Takes Position in The Charles Schwab Corporation $SCHW

Elefante Mark B acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,214 shares of the financial services provider’s stock, valued at approximately $3,895,000. Charles Schwab makes up approximately 1.7% of Elefante Mark B’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Souders Financial Advisors lifted its stake in shares of Charles Schwab by 2.3% during the 4th quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 98 shares during the last quarter. Essex Financial Services Inc. raised its stake in shares of Charles Schwab by 0.8% during the 4th quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider’s stock worth $1,282,000 after acquiring an additional 105 shares in the last quarter. Sheets Smith Wealth Management lifted its position in Charles Schwab by 0.7% during the first quarter. Sheets Smith Wealth Management now owns 14,521 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 108 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV boosted its stake in Charles Schwab by 4.5% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,536 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 110 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of Charles Schwab by 2.8% in the 4th quarter. Interchange Capital Partners LLC now owns 4,104 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 112 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $112.36 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $112.40. The company’s fifty day moving average price is $101.59 and its 200 day moving average price is $96.09. The company has a market capitalization of $194.31 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, research analysts predict that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio is 23.27%.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Barclays upped their target price on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. TD Cowen lifted their target price on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wolfe Research restated an “outperform” rating and set a $127.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 32,947 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total value of $3,426,817.47. Following the completion of the sale, the insider owned 57,972 shares of the company’s stock, valued at approximately $6,029,667.72. This trade represents a 36.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 28,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total value of $2,940,280.00. Following the completion of the sale, the insider owned 10,470 shares of the company’s stock, valued at approximately $1,099,454.70. The trade was a 72.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 398,984 shares of company stock valued at $41,699,569. Company insiders own 6.30% of the company’s stock.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.