The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,192 shares of the financial services provider’s stock after acquiring an additional 2,456 shares during the quarter. Charles Schwab comprises approximately 1.2% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 22nd largest holding. Edgemoor Investment Advisors Inc.’s holdings in Charles Schwab were worth $12,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter worth $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab during the second quarter worth about $27,000. Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. CGC Financial Services LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCHW. UBS Group lowered their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group upped 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 restated an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Barclays cut their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Price Performance

SCHW traded up $0.41 on Monday, reaching $63.31. The company had a trading volume of 388,569 shares, compared to its average volume of 7,979,070. The company has a fifty day moving average of $66.44 and a 200-day moving average of $70.15. The company has a market capitalization of $112.59 billion, a P/E ratio of 26.32, a PEG ratio of 1.18 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 one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Activity

In other Charles Schwab news, President Richard A. Wurster acquired 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the transaction, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Richard A. Wurster purchased 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. In the last quarter, insiders sold 107,800 shares of company stock worth $7,145,364. Corporate 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.