Associated Banc Corp boosted its stake in Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,864 shares of the financial services provider’s stock after buying an additional 267 shares during the period. Associated Banc Corp’s holdings in Charles Schwab were worth $678,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of SCHW. Clearbridge Investments LLC increased its stake in shares of Charles Schwab by 24.0% during the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after purchasing an additional 2,880,846 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Charles Schwab by 132.2% during the second quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock valued at $140,265,000 after purchasing an additional 1,987,302 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Charles Schwab during the first quarter valued at approximately $77,259,000. Investec Asset Management LTD increased its stake in shares of Charles Schwab by 31.6% during the second quarter. Investec Asset Management LTD now owns 6,885,579 shares of the financial services provider’s stock valued at $276,731,000 after purchasing an additional 1,652,518 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in shares of Charles Schwab by 101.9% during the first quarter. WCM Investment Management LLC now owns 3,077,744 shares of the financial services provider’s stock valued at $131,604,000 after purchasing an additional 1,553,184 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.
Shares of SCHW opened at $36.58 on Friday. The company has a market capitalization of $47.82 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $40.14 and a 200 day moving average of $43.05. Charles Schwab Co. has a twelve month low of $36.01 and a twelve month high of $52.70.
The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.
In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
A number of brokerages have weighed in on SCHW. Argus reaffirmed a “buy” rating and set a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Compass Point set a $45.00 price target on shares of Charles Schwab and gave the company a “hold” rating in a research report on Tuesday, July 2nd. Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and reduced their price target for the company from $49.00 to $43.00 in a research report on Friday, July 12th. ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley reduced their price target on shares of Charles Schwab from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Charles Schwab has an average rating of “Hold” and a consensus price target of $47.33.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
See Also: Return on Equity (ROE)
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