The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lowered its holdings in The Charles Schwab Co. (NYSE:SCHWGet Rating) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,282 shares of the financial services provider’s stock after selling 599 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highland Private Wealth Management boosted its holdings in Charles Schwab by 5.3% during the second quarter. Highland Private Wealth Management now owns 4,780 shares of the financial services provider’s stock worth $302,000 after buying an additional 241 shares in the last quarter. BerganKDV Wealth Management LLC lifted its holdings in Charles Schwab by 6.8% during the second quarter. BerganKDV Wealth Management LLC now owns 10,142 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 642 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its holdings in Charles Schwab by 13.6% during the second quarter. Franklin Street Advisors Inc. NC now owns 19,733 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 2,362 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Charles Schwab by 28.7% during the second quarter. Private Advisor Group LLC now owns 74,507 shares of the financial services provider’s stock valued at $4,707,000 after purchasing an additional 16,623 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in Charles Schwab by 0.5% during the second quarter. Gateway Investment Advisers LLC now owns 525,729 shares of the financial services provider’s stock valued at $33,216,000 after purchasing an additional 2,583 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SCHW shares. Barclays assumed coverage on shares of Charles Schwab in a report on Wednesday, August 31st. They set an “equal weight” rating and a $81.00 price objective on the stock. Morgan Stanley decreased their price target on shares of Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Redburn Partners assumed coverage on shares of Charles Schwab in a research note on Thursday, June 23rd. They issued a “neutral” rating on the stock. Jefferies Financial Group raised their price target on shares of Charles Schwab from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group raised their price objective on shares of Charles Schwab from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.46.

Charles Schwab Stock Performance

Shares of SCHW opened at $72.06 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $130.99 billion, a P/E ratio of 23.70, a P/E/G ratio of 0.91 and a beta of 1.07. The company’s fifty day moving average is $70.32 and its two-hundred day moving average is $71.42. The Charles Schwab Co. has a 1 year low of $59.35 and a 1 year high of $96.24.

Charles Schwab (NYSE:SCHWGet Rating) last posted its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Charles Schwab had a net margin of 33.09% and a return on equity of 16.82%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.91 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 11th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab’s dividend payout ratio is 28.95%.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 149,600 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $65.36, for a total value of $9,777,856.00. Following the sale, the chairman now directly owns 69,749,230 shares in the company, valued at approximately $4,558,809,672.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Charles R. Schwab sold 120,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the transaction, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 149,600 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the sale, the chairman now directly owns 69,749,230 shares of the company’s stock, valued at approximately $4,558,809,672.80. The disclosure for this sale can be found here. Insiders have sold 277,632 shares of company stock worth $17,904,256 in the last three months. Corporate insiders own 7.50% of the company’s stock.

Charles Schwab Company Profile

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.

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

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