NewEdge Advisors LLC Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

NewEdge Advisors LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,844 shares of the financial services provider’s stock after purchasing an additional 11,394 shares during the quarter. NewEdge Advisors LLC’s holdings in Charles Schwab were worth $6,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after purchasing an additional 292,155 shares during the period. Putnam Investments LLC raised its stake in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after buying an additional 560,110 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Charles Schwab by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after buying an additional 1,373,223 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of Charles Schwab stock 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 one year low of $48.66 and a one year high of $79.49. The business’s 50 day simple moving average is $64.08 and its two-hundred day simple moving average is $69.82. The stock has a market capitalization of $113.66 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating 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 company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the business posted $0.75 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SCHW shares. JMP Securities lowered their price objective on 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. JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company started coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group decreased their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus price target of $73.31.

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.