The Charles Schwab Co. (NYSE:SCHW) Stock Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,485 shares of the financial services provider’s stock after buying an additional 30,004 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Charles Schwab were worth $10,721,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allen Investment Management LLC boosted its stake in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $808,000. Client 1ST Advisory Group LLC raised its holdings in Charles Schwab by 15.9% during the 2nd quarter. Client 1ST Advisory Group LLC now owns 4,731 shares of the financial services provider’s stock worth $349,000 after buying an additional 648 shares during the period. HBK Sorce Advisory LLC lifted its stake in Charles Schwab by 1.1% during the second quarter. HBK Sorce Advisory LLC now owns 26,989 shares of the financial services provider’s stock valued at $1,989,000 after buying an additional 298 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in Charles Schwab by 2.2% during the second quarter. GHP Investment Advisors Inc. now owns 61,675 shares of the financial services provider’s stock valued at $4,545,000 after buying an additional 1,324 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, President Richard A. Wurster bought 10,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Richard A. Wurster acquired 10,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the transaction, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,636 shares of company stock valued at $6,533,064. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCHW shares. JMP Securities cut their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. TD Cowen reissued a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Stock Up 0.6 %

SCHW opened at $62.12 on Friday. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day moving average price of $65.33 and a 200 day moving average price of $70.04. The firm has a market cap of $110.48 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97.

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, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the firm earned $0.75 EPS. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.61%. Charles Schwab’s payout ratio is presently 41.84%.

Charles Schwab Company 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.