Arete Wealth Advisors LLC Buys New Stake in The Charles Schwab Co. (NYSE:SCHW)

Arete Wealth Advisors LLC purchased a new position in The Charles Schwab Co. (NYSE:SCHWGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,426 shares of the financial services provider’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in Charles Schwab by 6.6% during the 4th quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock valued at $5,859,032,000 after buying an additional 4,305,161 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 34,047,187 shares of the financial services provider’s stock worth $2,863,369,000 after acquiring an additional 496,137 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Charles Schwab by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 24,307,246 shares of the financial services provider’s stock valued at $2,038,366,000 after acquiring an additional 681,202 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Charles Schwab by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 19,578,136 shares of the financial services provider’s stock valued at $1,646,522,000 after purchasing an additional 267,209 shares during the last quarter. Finally, Norges Bank acquired a new stake in Charles Schwab in the 4th quarter worth approximately $1,127,795,000. 87.13% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $69.31 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s 50 day simple moving average is $64.47 and its 200-day simple moving average is $74.88. The Charles Schwab Co. has a 12 month low of $59.35 and a 12 month high of $96.24. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 0.83 and a beta of 1.10.

Charles Schwab (NYSE:SCHWGet Rating) last released its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.04 billion. Charles Schwab had a net margin of 33.09% and a return on equity of 15.86%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. Analysts expect that The Charles Schwab Co. will post 3.91 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 11th. This represents a $0.88 dividend on an annualized basis and a yield of 1.27%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. Charles Schwab’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCHW. The Goldman Sachs Group assumed coverage on shares of Charles Schwab in a research note on Tuesday, April 26th. They set a “neutral” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Charles Schwab from $107.00 to $101.00 in a research report on Thursday, April 14th. Compass Point raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Tuesday, April 12th. Citigroup boosted their price target on Charles Schwab from $87.50 to $90.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $91.75.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the transaction, the chairman now owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $62.70, for a total transaction of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 149,600 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the completion of the transaction, the chairman now directly owns 69,749,230 shares in the company, valued at $4,558,809,672.80. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.

About Charles Schwab

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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