Wellington Capital Management Inc. Purchases Shares of 6,390 The Charles Schwab Corporation $SCHW

Wellington Capital Management Inc. bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,390 shares of the financial services provider’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in Charles Schwab in the 2nd quarter worth about $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares in the last quarter. Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares in the last quarter. Finally, Hoese & Co LLP grew its position in shares of Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective on the stock. UBS Group initiated coverage on shares of Charles Schwab in a research note on Thursday. They set a “buy” rating and a $119.00 target price on the stock. Barclays decreased their price target on shares of Charles Schwab from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America increased their price objective on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $108.37.

Charles Schwab Trading Down 0.4%

Charles Schwab stock opened at $96.63 on Friday. The stock has a market cap of $171.71 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 0.81 and a beta of 0.96. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $93.86 and a two-hundred day moving average price of $93.44. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is currently owned by corporate insiders.

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.