Pacer Advisors Inc. increased its stake in Charles Schwab Co. (NYSE:SCHW) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,614 shares of the financial services provider’s stock after acquiring an additional 12,661 shares during the period. Pacer Advisors Inc.’s holdings in Charles Schwab were worth $5,338,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. FNY Investment Advisers LLC increased its holdings in Charles Schwab by 133.3% during the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after buying an additional 400 shares during the last quarter. Gradient Investments LLC grew its stake in Charles Schwab by 526.2% during the 3rd quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock worth $34,000 after buying an additional 684 shares during the last quarter. Glassman Wealth Services grew its stake in Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after buying an additional 371 shares during the last quarter. First PREMIER Bank purchased a new position in Charles Schwab during the 2nd quarter worth $49,000. Finally, Mirova purchased a new position in Charles Schwab during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 79.02% of the company’s stock.
Several research analysts recently weighed in on the company. Wells Fargo & Co downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $50.00 to $38.00 in a research note on Thursday, October 3rd. UBS Group lowered their price target on Charles Schwab from $36.00 to $33.00 and set a “sell” rating for the company in a research report on Wednesday, October 2nd. Argus reaffirmed a “buy” rating and set a $52.00 price target (down previously from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Compass Point set a $45.00 price target on Charles Schwab and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Finally, Deutsche Bank lowered their price target on Charles Schwab from $37.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.34.
Shares of SCHW stock opened at $37.28 on Friday. The stock has a market cap of $46.63 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.39 and a beta of 1.32. The business has a 50-day simple moving average of $39.40 and a 200-day simple moving average of $41.63. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. Charles Schwab Co. has a 52-week low of $34.58 and a 52-week high of $49.47.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Sell-side analysts anticipate that Charles Schwab Co. will post 2.63 earnings per share for the current fiscal year.
Charles Schwab Company 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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