Means Investment CO. Inc. Has $7.61 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Means Investment CO. Inc. boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,216 shares of the financial services provider’s stock after buying an additional 13,078 shares during the period. Charles Schwab makes up 0.9% of Means Investment CO. Inc.’s holdings, making the stock its 23rd biggest holding. Means Investment CO. Inc.’s holdings in Charles Schwab were worth $7,606,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Charles Schwab by 12.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 34,188 shares of the financial services provider’s stock valued at $2,519,000 after acquiring an additional 3,873 shares during the period. Spectrum Financial Alliance Ltd LLC raised its holdings in shares of Charles Schwab by 1.3% during the second quarter. Spectrum Financial Alliance Ltd LLC now owns 137,582 shares of the financial services provider’s stock valued at $10,138,000 after purchasing an additional 1,762 shares during the period. Central Bank & Trust Co. boosted its position in shares of Charles Schwab by 0.9% during the 2nd quarter. Central Bank & Trust Co. now owns 41,969 shares of the financial services provider’s stock worth $3,093,000 after purchasing an additional 366 shares in the last quarter. Argus Investors Counsel Inc. grew its stake in shares of Charles Schwab by 1.2% in the 2nd quarter. Argus Investors Counsel Inc. now owns 27,262 shares of the financial services provider’s stock valued at $2,009,000 after buying an additional 327 shares during the period. Finally, MONECO Advisors LLC raised its stake in Charles Schwab by 7.2% during the 2nd quarter. MONECO Advisors LLC now owns 3,457 shares of the financial services provider’s stock worth $255,000 after buying an additional 231 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab 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 of the company’s stock, valued at $9,124,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction 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 completion of the sale, the insider now owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,911 shares of company stock worth $11,836,288. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. UBS Group dropped their price target 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. Barclays decreased their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley dropped their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.27.

Charles Schwab Trading Up 0.0 %

Shares of SCHW stock traded up $0.03 during trading hours on Monday, reaching $65.58. The company’s stock had a trading volume of 4,302,632 shares, compared to its average volume of 8,001,281. 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 one year low of $48.66 and a one year high of $79.49. The stock has a market capitalization of $116.63 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.23 and a beta of 0.99. The firm’s fifty day simple moving average is $69.14 and its 200 day simple moving average is $70.02.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 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 analyst estimates of $4.68 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. Charles Schwab’s dividend payout ratio (DPR) is currently 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.