Citizens Financial Group Inc. RI Acquires 3,889 Shares of The Charles Schwab Co. (NYSE:SCHW)

Citizens Financial Group Inc. RI increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,346 shares of the financial services provider’s stock after purchasing an additional 3,889 shares during the period. Citizens Financial Group Inc. RI’s holdings in Charles Schwab were worth $7,321,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SCHW. Country Trust Bank acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC grew its holdings in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab in the second quarter worth $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6 %

NYSE SCHW opened at $62.12 on Monday. The stock has a market capitalization of $110.48 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week 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. The stock has a fifty day moving average of $65.33 and a 200-day moving average of $70.07.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business 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 firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SCHW. TD Cowen reissued a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, UBS Group cut their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.75.

Insider Activity at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock worth $6,533,064 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.