Parsons Capital Management Inc. RI increases stake in Charles Schwab Co. (NYSE:SCHW)

Parsons Capital Management Inc. RI raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,723 shares of the financial services provider’s stock after purchasing an additional 728 shares during the quarter. The holdings of Parsons Capital Management Inc. RI’s holdings in Charles Schwab were worth $1,306,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Nelson Capital Management LLC grew its position in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC grew its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 142 shares in the last quarter. Sweet Financial Partners LLC grew its position in Charles Schwab by 3.5% in the first quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 150 shares in the last quarter. Ironwood Financial llc grew its position in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 160 shares in the last quarter. Finally, Sculati Wealth Management LLC raised its position in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s shares.

Indoor activity

In other news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the sale, the insider now owns 121,666 shares in the company, valued at $8,630,986.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,231 shares of company stock worth $12,638,320. Company insiders own 6.60% of the company’s shares.

Analysts set new price targets

Several brokerages have issued reports on SCHW. JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note 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 research note on Friday. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their target price for the company from $76.00 to $84.00 in the -a research note from Monday, July 8. 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 research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Charles Schwab has a consensus rating of “Hold” and an average price target of $74.27, according to MarketBeat.com.

See the latest stock analysis on Charles Schwab

Charles Schwab Stock Performance

Shares of SCHW opened at $65.20 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42, and a current ratio of 0.42. The stock has a market cap of $115.95 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.23 and a beta of 0.99. Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The stock’s fifty day moving average is $68.97 and its two hundred day moving average is $70.05.

Charles Schwab (NYSE:SCHW – Get Your Free Report ) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company’s quarterly revenue was up 0.7% compared to the same quarter last year. During the same period last year, the company posted earnings of $0.75 per share. On average, research analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, August 9. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Charles Schwab Company Profile

(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.

See Also

Want to see what other hedge funds own SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for The Charles Schwab Co. (NYSE:SCHW – Free Report).

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