Fiduciary Financial Group LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Fiduciary Financial Group LLC purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 54,823 shares of the financial services provider’s stock, valued at approximately $3,697,000. Charles Schwab comprises about 0.9% of Fiduciary Financial Group LLC’s portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of SCHW. Country Trust Bank acquired a new stake in Charles Schwab in the second quarter valued at approximately $26,000. Fortitude Family Office LLC grew its stake in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC bought a new position in Charles Schwab during the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $30,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.5 %

Shares of SCHW traded up $0.31 during midday trading on Friday, hitting $65.54. The stock had a trading volume of 5,335,047 shares, compared to its average volume of 8,024,689. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market cap of $116.56 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The business has a 50-day simple moving average of $69.31 and a two-hundred day simple moving average of $69.92.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold 181,911 shares of company stock worth $12,541,978 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SCHW has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays reduced their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Bank of America dropped their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $74.27.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.