Sky Investment Group LLC Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Sky Investment Group LLC increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,085 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Sky Investment Group LLC’s holdings in Charles Schwab were worth $375,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. increased its holdings in Charles Schwab by 0.9% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Charles Schwab by 4.2% during the 1st 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 buying an additional 2,946,327 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after acquiring an additional 296,317 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter worth about $950,192,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Charles Schwab 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 sale, the insider now owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the transaction, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,911 shares of company stock valued at $12,541,978. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Up 4.6 %

Charles Schwab stock traded up $2.86 during midday trading on Wednesday, reaching $65.35. The stock had a trading volume of 15,941,045 shares, compared to its average volume of 8,044,388. The firm’s fifty day simple moving average is $69.49 and its 200-day simple moving average is $69.96. 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 stock has a market capitalization of $116.22 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. 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 released its 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 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 analysts’ expectations of $4.68 billion. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $76.00 to $84.00 in a research report on Monday, July 8th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six 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 an average target price of $74.27.

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.