Legacy Capital Wealth Partners LLC Buys Shares of 7,704 The Charles Schwab Co. (NYSE:SCHW)

Legacy Capital Wealth Partners LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,704 shares of the financial services provider’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. increased its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after purchasing an additional 292,155 shares in the last quarter. Finally, Norges Bank bought a new position in Charles Schwab in the 4th quarter worth $950,192,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.4 %

Shares of NYSE SCHW opened at $64.81 on Wednesday. The company has a market cap of $115.26 billion, a P/E ratio of 27.12, a PEG ratio of 1.22 and a beta of 0.97. The firm has a 50-day simple moving average of $67.04 and a two-hundred day simple moving average of $70.16. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year 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.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Charles Schwab’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date 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 currently 41.84%.

Insider Buying and Selling at Charles Schwab

In other news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the sale, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Richard A. Wurster bought 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold a total of 107,800 shares of company stock valued at $7,145,364 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America lowered their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. UBS Group lowered their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley cut their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.00.

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.