Shares of Charles Schwab Co. (NYSE:SCHW) bought by Ballentine Partners LLC

VaselineSeptember 9, 2024

0 5 minutes read

Ballentine Partners LLC raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 21,666 shares of the financial services provider’s stock after acquiring an additional 212 shares during the period. Ballentine Partners LLC’s holdings in Charles Schwab were worth $1,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Charles Schwab by 5.9% in the fourth quarter. International Assets Investment Management LLC now owns 10,994 shares of the financial services provider’s stock valued at $756,000 after buying an additional 612 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in shares of Charles Schwab in the 4th quarter valued at about $466,000. Dana Investment Advisors Inc. raised its position in shares of Charles Schwab by 10.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 18,528 shares of the financial services provider’s stock valued at $1,275,000 after purchasing an additional 1,733 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Charles Schwab by 5.3% in the 4th quarter. QRG Capital Management Inc. now owns 94,539 shares of the financial services provider’s stock valued at $6,504,000 after purchasing an additional 4,730 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Charles Schwab by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,553,671 shares of the financial services provider’s stock, valued at 313,324,000 USD after buying an additional 309,883 shares in the last quarter. 84.38% of shares are owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of SCHW stock opened at $62.90 on Monday. The company has a market cap of $111.86 billion, a P/E ratio of 26.32, a PEG ratio of 1.18 and a beta of 0.97. The stock has a fifty day moving average price of $66.44 and a 200 day moving average price of $70.15. 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 Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

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Charles Schwab (NYSE:SCHW – Get Your Free Report ) last issued its quarterly earnings data 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 return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue rose 0.7% year-over-year. On average, research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9. This represents an annualized dividend of $1.00 and a dividend yield of 1.59%. Charles Schwab’s payout ratio is 41.84%.

Analysts on Wall Street are forecasting an increase

SCHW has been the subject of several recent analyst reports. UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley cut their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. Finally, Barclays cut their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.00, according to MarketBeat.com.

Get the latest stock report on Charles Schwab

Insider trading at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,800 shares of company stock worth $7,145,364. 6.60% of shares are currently held by corporate insiders.

Profile of Charles Schwab

(Free report)

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 through two segments, Investor Services and Advisory Services.