Perigon Wealth Management LLC boosted its holdings in Charles Schwab Co. (NYSE:SCHW) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,563 shares of the financial services provider’s stock after acquiring an additional 1,989 shares during the quarter. Perigon Wealth Management LLC’s holdings in Charles Schwab were worth $390,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Lee Financial Group Hawaii Inc. raised its stake in shares of Charles Schwab by 1.7% in the second quarter. Lee Financial Group Hawaii Inc. now owns 17,358 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 293 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Charles Schwab by 4.9% in the first quarter. Integrated Advisors Network LLC now owns 6,354 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 298 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Charles Schwab by 37.4% in the first quarter. Flagship Harbor Advisors LLC now owns 1,105 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 301 shares during the last quarter. Summit Asset Management LLC raised its stake in shares of Charles Schwab by 2.3% in the first quarter. Summit Asset Management LLC now owns 14,173 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 323 shares during the last quarter. Finally, Hall Kathryn A. raised its stake in shares of Charles Schwab by 0.4% in the first quarter. Hall Kathryn A. now owns 82,393 shares of the financial services provider’s stock valued at $2,770,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.
In other news, Director Charles A. Ruffel bought 2,854 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was acquired at an average price of $34.91 per share, with a total value of $99,633.14. Following the completion of the purchase, the director now directly owns 7,751 shares of the company’s stock, valued at $270,587.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 10,935 shares of Charles Schwab stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $40.02, for a total transaction of $437,618.70. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.
NYSE SCHW opened at $33.15 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $42.68 billion, a price-to-earnings ratio of 13.21 and a beta of 1.25. The firm’s 50 day simple moving average is $34.61 and its 200 day simple moving average is $37.89. Charles Schwab Co. has a 1 year low of $28.00 and a 1 year high of $51.65.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Charles Schwab Co. will post 2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. Charles Schwab’s dividend payout ratio is currently 26.47%.
Several research analysts recently weighed in on the stock. Argus dropped their price objective on shares of Charles Schwab from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 19th. TheStreet cut shares of Charles Schwab from a “b-” rating to a “c” rating in a research report on Monday, July 27th. Wells Fargo & Co upped their target price on shares of Charles Schwab from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Finally, Compass Point cut shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.50.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, 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, retirement plan, and mutual fund clearing services.
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