Aries Wealth Management Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Aries Wealth Management bought a new position in The Charles Schwab Co. (NYSE:SCHW – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,111 shares of the financial services provider’s stock, valued at approximately $768,000.

Other hedge funds have also added to or reduced their stakes in the company. Steph & Co. purchased a new stake in Charles Schwab in the fourth quarter worth $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Charles Schwab during the fourth quarter valued at $25,000. SBK Financial Inc. purchased a new position in shares of Charles Schwab during the fourth quarter valued at $25,000. Horan Securities Inc. purchased a new position in shares of Charles Schwab during the fourth quarter valued at $27,000. Finally, Sierra Capital LLC purchased a new position in shares of Charles Schwab during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 87.13% of the company’s stock.

Several equities analysts have recently commented on SCHW shares. Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, June 28th. The Goldman Sachs Group started coverage on Charles Schwab in a research note on Tuesday, April 26th. They set a “neutral” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Charles Schwab from $107.00 to $101.00 in a research note on Thursday, April 14th. Citigroup raised their price target on Charles Schwab from $87.50 to $90.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, Jefferies Financial Group dropped their price objective on Charles Schwab to $95.00 in a research report on Friday, April 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.93.

In other news, CEO Walter W. Bettinger bought 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was purchased at an average price of $68.55 per share, with a total value of $297,575.55. Following the completion of the acquisition, the chief executive officer now directly owns 359,714 shares of the company’s stock, valued at approximately $24,658,394.70. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan M. Craig sold 4,016 shares of Charles Schwab stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $80.02, for a total value of $321,360.32. The disclosure for this sale can be found here. In the last three months, insiders acquired 104,169 shares of company stock valued at $7,081,708. Corporate insiders own 6.90% of the company’s stock.

Shares of NYSE SCHW opened at $63.92 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $116.15 billion, a PE ratio of 23.16, a P/E/G ratio of 0.73 and a beta of 1.10. The business has a 50-day simple moving average of $65.46 and a two-hundred day simple moving average of $78.77. The Charles Schwab Co. has a fifty-two week low of $59.35 and a fifty-two week high of $96.24.

Charles Schwab (NYSE:SCHW – Get Rating) last issued its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.08). The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.82 billion. Charles Schwab had a return on equity of 13.67% and a net margin of 31.24%. Charles Schwab’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.87 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, May 12th. Charles Schwab’s dividend payout ratio is presently 28.99%.

About Charles Schwab (Get Rating)

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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