Giverny Capital Inc. Has $37.30 Million Stock Position in Charles Schwab Co. (NYSE:SCHW)

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Giverny Capital Inc. grew its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 25.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 928,197 shares of the financial services provider’s stock after purchasing an additional 191,073 shares during the quarter. Charles Schwab comprises approximately 3.8% of Giverny Capital Inc.’s portfolio, making the stock its 10th biggest holding. Giverny Capital Inc. owned 0.07% of Charles Schwab worth $37,304,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC boosted its position in shares of Charles Schwab by 133.3% in the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 400 shares during the period. Quantamental Technologies LLC purchased a new stake in Charles Schwab in the first quarter valued at approximately $32,000. Berman Capital Advisors LLC raised its stake in Charles Schwab by 260.7% in the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 756 shares in the last quarter. Glassman Wealth Services raised its stake in Charles Schwab by 51.0% in the second quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 371 shares in the last quarter. Finally, First PREMIER Bank purchased a new stake in Charles Schwab in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.93% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Compass Point set a $45.00 target price on shares of Charles Schwab and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, July 22nd. Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and lowered their target price for the company from $49.00 to $43.00 in a research note on Friday, July 12th. JPMorgan Chase & Co. set a $44.00 target price on shares of Charles Schwab and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Citigroup lowered their target price on shares of Charles Schwab from $43.50 to $39.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $47.25.

In related news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction on Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction on Wednesday, August 21st. The shares were 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 owns 7,297 shares in the company, valued at approximately $274,075.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,677 shares of company stock worth $8,997,842. 10.90% of the stock is owned by insiders.

Shares of SCHW stock traded up $0.87 during trading hours on Friday, hitting $43.94. 51,505 shares of the company’s stock were exchanged, compared to its average volume of 7,395,745. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Charles Schwab Co. has a 12-month low of $35.85 and a 12-month high of $52.70. The business’s 50 day simple moving average is $39.16 and its 200-day simple moving average is $42.36. The company has a market capitalization of $54.84 billion, a PE ratio of 17.92, a PEG ratio of 2.76 and a beta of 1.29.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts anticipate that Charles Schwab Co. will post 2.67 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, August 8th. Charles Schwab’s payout ratio is 27.76%.

Charles Schwab 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.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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