WCM Investment Management LLC lowered its position in Charles Schwab Co. (NYSE:SCHW) by 42.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,778,346 shares of the financial services provider’s stock after selling 1,299,398 shares during the period. WCM Investment Management LLC owned 0.13% of Charles Schwab worth $71,471,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its stake in shares of Charles Schwab by 133.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Charles Schwab in the 1st quarter worth about $32,000. Berman Capital Advisors LLC boosted its holdings in shares of Charles Schwab by 260.7% in the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after buying an additional 756 shares during the last quarter. First PREMIER Bank purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $49,000. Finally, Field & Main Bank purchased a new position in shares of Charles Schwab in the 1st quarter worth about $54,000. Institutional investors own 80.30% of the company’s stock.
Shares of SCHW stock traded up $0.37 during trading on Thursday, hitting $37.98. The company had a trading volume of 437,581 shares, compared to its average volume of 11,123,750. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average is $40.26 and its two-hundred day moving average is $43.14. The stock has a market capitalization of $49.28 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 2.49 and a beta of 1.25. Charles Schwab Co. has a 52 week low of $36.01 and a 52 week high of $52.70.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.
A number of equities analysts recently weighed in on the stock. Compass Point set a $45.00 price target on shares of Charles Schwab and gave the stock a “hold” rating in a report on Tuesday, July 2nd. Citigroup dropped their price objective on shares of Charles Schwab from $43.50 to $39.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Argus reaffirmed a “buy” rating and set a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Morgan Stanley dropped their price objective on shares of Charles Schwab from $53.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.33.
In related news, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Goldfarb acquired 2,595 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $38.68 per share, for a total transaction of $100,374.60. Following the completion of the transaction, the director now owns 3,771 shares of the company’s stock, valued at approximately $145,862.28. The disclosure for this purchase can be found here. 10.90% of the stock is currently owned by corporate insiders.
Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, 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, retirement plan, and mutual fund clearing services.
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