Quadrant Capital Group LLC Raises Stock Position in The Charles Schwab Corporation $SCHW

Quadrant Capital Group LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,971 shares of the financial services provider’s stock after buying an additional 7,804 shares during the period. Quadrant Capital Group LLC’s holdings in Charles Schwab were worth $3,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC grew its holdings in shares of Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares during the period. Pine Haven Investment Counsel Inc grew its stake in shares of Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Principle Wealth Partners LLC raised its position in Charles Schwab by 2.0% in the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 113 shares during the period. Traveka Wealth LLC boosted its stake in shares of Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares during the last quarter. Finally, 1ST Source Bank grew its position in shares of Charles Schwab by 0.5% during the 2nd quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 117 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Morgan Stanley lifted their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,482 shares of company stock worth $905,295 in the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 1.2%

Shares of SCHW opened at $91.86 on Friday. The stock has a market capitalization of $163.23 billion, a PE ratio of 21.51, a P/E/G ratio of 0.85 and a beta of 1.02. The company’s fifty day moving average is $93.81 and its 200 day moving average is $92.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

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.