Pittenger & Anderson Inc. Has $397,000 Stake in The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. decreased its stake in The Charles Schwab Co. (NYSE:SCHWGet Rating) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SCHW. Vanguard Group Inc. boosted its stake in Charles Schwab by 2.6% in the first quarter. Vanguard Group Inc. now owns 119,764,493 shares of the financial services provider’s stock worth $10,097,344,000 after purchasing an additional 3,007,895 shares in the last quarter. BlackRock Inc. raised its position in shares of Charles Schwab by 1.7% during the first quarter. BlackRock Inc. now owns 107,183,424 shares of the financial services provider’s stock worth $9,036,635,000 after acquiring an additional 1,780,539 shares during the last quarter. State Street Corp raised its position in shares of Charles Schwab by 6.6% during the fourth quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock worth $5,859,032,000 after acquiring an additional 4,305,161 shares during the last quarter. Capital Research Global Investors raised its position in shares of Charles Schwab by 2,611.3% during the first quarter. Capital Research Global Investors now owns 23,832,375 shares of the financial services provider’s stock worth $2,009,428,000 after acquiring an additional 22,953,375 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Charles Schwab by 1.4% during the fourth quarter. Alliancebernstein L.P. now owns 19,578,136 shares of the financial services provider’s stock worth $1,646,522,000 after acquiring an additional 267,209 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Charles Schwab Stock Down 1.2 %

SCHW opened at $72.06 on Friday. The stock has a market cap of $130.99 billion, a PE ratio of 23.70, a P/E/G ratio of 0.91 and a beta of 1.07. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. The Charles Schwab Co. has a 52 week low of $59.35 and a 52 week high of $96.24. The business’s fifty day simple moving average is $70.32 and its 200 day simple moving average is $71.42.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Co. will post 3.91 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

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

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan M. Craig sold 8,032 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $75.00, for a total transaction of $602,400.00. Following the completion of the sale, the insider now directly owns 4,019 shares in the company, valued at $301,425. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the sale, the chairman now directly owns 71,083,305 shares in the company, valued at $4,456,923,223.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan M. Craig sold 8,032 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $75.00, for a total transaction of $602,400.00. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $301,425. The disclosure for this sale can be found here. Insiders sold a total of 277,632 shares of company stock worth $17,904,256 over the last three months. Company insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Barclays began coverage on Charles Schwab in a report on Wednesday, August 31st. They issued an “equal weight” rating and a $81.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $90.00 to $95.00 in a research note on Friday, August 19th. Redburn Partners started coverage on Charles Schwab in a research note on Thursday, June 23rd. They set a “neutral” rating on the stock. Jefferies Financial Group raised their target price on Charles Schwab from $78.00 to $86.00 and gave the company a “buy” rating in a report on Monday. Finally, UBS Group raised their target price on Charles Schwab from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, September 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $91.46.

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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