L & S Advisors Inc Buys Shares of 22,472 The Charles Schwab Co. (NYSE:SCHW)

L & S Advisors Inc purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,472 shares of the financial services provider’s stock, valued at approximately $1,656,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 acquiring an additional 2,946,327 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of 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 acquiring an additional 292,155 shares during the last quarter. Putnam Investments LLC increased its position in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after purchasing an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after purchasing an additional 1,373,223 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.2 %

Shares of NYSE:SCHW opened at $63.84 on Wednesday. The stock has a 50-day simple moving average of $64.93 and a 200-day simple moving average of $70.03. The stock has a market capitalization of $113.46 billion, a P/E ratio of 26.71, a PEG ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $4.68 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Richard A. Wurster acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock valued at $6,533,064 over the last three months. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. 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. TD Cowen restated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.75.

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.