Tiedemann Advisors LLC reduced its holdings in Charles Schwab Co. (NYSE:SCHW) by 37.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,053 shares of the financial services provider’s stock after selling 3,005 shares during the quarter. Tiedemann Advisors LLC’s holdings in Charles Schwab were worth $258,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Verition Fund Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $223,000. Glenmede Trust Co. NA grew its holdings in shares of Charles Schwab by 53.2% during the second quarter. Glenmede Trust Co. NA now owns 309,428 shares of the financial services provider’s stock worth $15,812,000 after buying an additional 107,503 shares in the last quarter. Argent Trust Co grew its holdings in shares of Charles Schwab by 55.8% during the second quarter. Argent Trust Co now owns 26,167 shares of the financial services provider’s stock worth $1,337,000 after buying an additional 9,377 shares in the last quarter. CapWealth Advisors LLC grew its holdings in shares of Charles Schwab by 4.3% during the second quarter. CapWealth Advisors LLC now owns 27,970 shares of the financial services provider’s stock worth $1,429,000 after buying an additional 1,161 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in shares of Charles Schwab by 1.2% during the second quarter. Pittenger & Anderson Inc. now owns 164,316 shares of the financial services provider’s stock worth $8,397,000 after buying an additional 1,995 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.
Several research analysts recently commented on SCHW shares. Wells Fargo & Co increased their price target on Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, June 26th. Morgan Stanley increased their price target on Charles Schwab from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of Charles Schwab in a research report on Monday, July 16th. Finally, JPMorgan Chase & Co. set a $59.00 price target on Charles Schwab and gave the company a “buy” rating in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.77.
Shares of SCHW traded up $0.88 during mid-day trading on Friday, reaching $49.01. The company’s stock had a trading volume of 9,664,415 shares, compared to its average volume of 6,506,918. Charles Schwab Co. has a 1-year low of $42.20 and a 1-year high of $60.22. The stock has a market cap of $66.40 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.23 and a beta of 1.55. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Charles Schwab had a return on equity of 17.96% and a net margin of 30.83%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. As a group, analysts expect that Charles Schwab Co. will post 2.43 earnings per share for the current year.
In other news, Chairman Charles R. Schwab sold 190,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher V. Dodds sold 15,718 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total value of $803,818.52. Following the completion of the sale, the director now directly owns 7,592 shares of the company’s stock, valued at $388,254.88. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
Charles Schwab Profile
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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