The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 40.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,291 shares of the financial services provider’s stock after acquiring an additional 6,411 shares during the period. Meeder Advisory Services Inc.’s holdings in Charles Schwab were worth $1,643,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Nelson Capital Management LLC raised its holdings in shares of Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the last quarter. Abbrea Capital LLC raised its holdings in shares of Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares during the last quarter. Ironwood Financial llc raised its holdings in shares of Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after buying an additional 160 shares during the last quarter. Ascent Wealth Partners LLC raised its holdings in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the last quarter. Finally, Sculati Wealth Management LLC increased its stake in shares of Charles Schwab by 0.4% during the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 165 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 0.6 %

Shares of Charles Schwab stock opened at $62.12 on Friday. The stock has a 50-day moving average price of $65.33 and a 200 day moving average price of $70.00. The company has a market cap of $110.48 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.19 and a beta of 0.97. 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 Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping 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 company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s revenue was up .7% compared to the same quarter last year. As a group, analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Ratings Changes

A number of research analysts recently commented on SCHW shares. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Wells Fargo & Company started coverage on shares of Charles Schwab in a report on Thursday. They set an “equal weight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Bank of America reduced their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,533,064 in the last three months. Insiders own 6.60% of the company’s stock.

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.