Hudson Canyon Capital Management Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Hudson Canyon Capital Management trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,936 shares of the financial services provider’s stock after selling 2,386 shares during the period. Charles Schwab makes up 1.4% of Hudson Canyon Capital Management’s investment portfolio, making the stock its 25th largest holding. Hudson Canyon Capital Management’s holdings in Charles Schwab were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Morningstar Investment Services LLC boosted its position in Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. grew its position in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after buying an additional 857,734 shares during the period. M&G Plc purchased a new stake in Charles Schwab during the first quarter valued at approximately $11,452,000. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after purchasing an additional 1,558,975 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after buying an additional 17,925 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.3 %

Shares of Charles Schwab stock traded up $0.17 during trading on Friday, hitting $65.10. The stock had a trading volume of 6,549,183 shares, compared to its average volume of 8,391,682. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s fifty day simple moving average is $67.41 and its 200-day simple moving average is $70.10. The stock has a market cap of $115.78 billion, a PE ratio of 27.24, a PEG ratio of 1.22 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.54%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SCHW. TD Cowen restated a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Barclays lowered their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley cut their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, JMP Securities dropped their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $74.00.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Insiders sold a total of 107,800 shares of company stock valued at $7,145,364 in the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Profile

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.